Published on 10/16/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $5.48 million index-linked notes on Russell, S&P
By Sarah Lizee
Olympia, Wash., Oct. 16 – GS Finance Corp. priced $5.48 million of 0% index-linked notes due Oct. 12, 2023 tied to the Russell 2000 index and 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 each index finishes at or above its initial level, the payout at maturity will be par plus 34.5%.
Investors will receive par plus 12% if the lesser-performing index falls by up to 30% and will be fully exposed to any decline of the lesser performing index if it falls by more than 30%.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Index-linked notes
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $5,481,000
|
| Maturity: | Oct. 12, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index closes at or above initial level, par plus 34.5%; par plus 12% if laggard index falls by up to 30%; otherwise, full exposure to any losses of lesser performing index
|
| Initial levels: | 1,497.787 for Russell, 2,938.79 for S&P
|
| Pricing date: | Oct. 7
|
| Settlement date: | Oct. 10
|
| Agent: | Goldman Sachs & Co.
|
| Fees: | 1.9%
|
| Cusip: | 40056X5N2
|
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