Published on 10/2/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $10.45 million leveraged buffered notes tied to S&P 500
By Kiku Steinfeld
Chicago, Oct. 2 – GS Finance Corp. priced $10.45 million of 0% leveraged buffered index-linked notes due Feb. 25, 2021 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the index closes above its initial level, the payout at maturity will be par plus 1.5 times the index gain, subject to a maximum settlement amount of $1,133.50 per each $1,000 principal amount of notes. If the index finishes flat or falls by up to 15%, investors will receive par. Investors will lose 1% for every 1% decline beyond 15% of its initial level.
Goldman Sachs & Co. LLC is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Leveraged buffered index-linked notes
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Underlying indexes: | S&P 500
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Amount: | $10,452,000
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Maturity: | Feb. 25, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.5 times any index gain, subject to maximum settlement amount of $1,133.50 per $1,000 principal amount; if index finishes flat or falls by up to 15%, par; 1% loss for every 1% decline beyond 15% of initial level
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Initial index levels: | 2,922.95
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Pricing date: | Aug. 22
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Settlement date: | Aug. 27
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Underwriter: | Goldman, Sachs & Co. LLC
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Fees: | 0.1%
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Cusip: | 40056X5J1
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