Published on 12/12/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.94 million buffered notes linked to S&P 500
By Kiku Steinfeld
Chicago, Dec. 12 – GS Finance Corp. priced $1.94 million of 0% buffered index-linked notes due Nov. 29, 2024 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.
The payout at maturity will be par plus any index gain. Investors will receive par if the index falls by up to 15% and lose 1% for every 1% decline in the index beyond 15%.
Goldman, Sachs & Co. is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Buffered index-linked notes
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Underlying index: | S&P 500
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Amount: | $1,937,000
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Maturity: | Nov. 29, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain; par if the index falls by up to 15%; 1% loss for every 1% decline in the index beyond 15%
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Initial index level: | 3,133.64
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Buffer level: | 85% of initial level
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Pricing date: | Nov. 25
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Settlement date: | Nov. 29
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Underwriter: | Goldman, Sachs & Co.
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Fees: | 4.36%
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Cusip: | 40056XMX1
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