Published on 10/2/2019 in the Prospect News Structured Products Daily.
New Issue: GS prices $670,000 leveraged buffered notes tied to S&P 500
By Kiku Steinfeld
Chicago, Oct. 2 – GS Finance Corp. priced $670,000 of 0% leveraged buffered index-linked notes due Aug. 25, 2022, 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 the gain up to a maximum settlement amount of $1,300 per $1,000 amount of notes.
If the index finishes flat or falls by up to 24.8%, investors will receive par. Investors will lose 1% for every 1% decline beyond 24.8% of initial level.
Goldman Sachs & Co. LLC is the agent.
Issuer: | GS finance Corp.
|
Guarantor: | Goldman Sachs Group, Inc.
|
Issue: | Leveraged buffered index-linked notes
|
Underlying index: | S&P 500
|
Amount: | $670,000
|
Maturity: | Aug. 25, 2022
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If index closes above initial level, par plus the gain up to a maximum settlement amount of $1,300 per each $1,000 of notes; if index finishes flat or falls by up to 24.8%, par; 1% loss for every 1% decline beyond 24.8% of initial level
|
Initial index level: | 2,922.95
|
Buffer level: | 75.2% of initial level
|
Pricing date: | Aug. 22
|
Settlement date: | Aug. 27
|
Agent: | Goldman, Sachs & Co. LLC
|
Fees: | 0.675%
|
Cusip: | 40056X4J2
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.