Published on 1/2/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $19.6 million trigger PLUS due 2026 tied to S&P 500
By Wendy Van Sickle
Columbus, Ohio, Jan. 2 – GS Finance Corp. priced $19.6 million of 0% trigger Performance Leveraged Upside Securities due Jan. 5, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
The payout at maturity will be par of $10 plus 1.2885 times any gain in the index.
Investors will receive par if the index falls by up to 35% and will lose 1% for each 1% decline from the initial level if the index finishes beyond 65%.
Goldman Sachs & Co. is the agent. Morgan Stanley Wealth Management is the dealer.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Trigger Performance Leveraged Upside Securities
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Underlying index: | S&P 500
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Amount: | $19,596,190
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Maturity: | Jan. 5, 2026
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 1.2885 times any gain in the index; par if index falls by up to 35%; otherwise, 1% loss for each 1% decline from initial level
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Initial level: | 3,221.29
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Trigger level: | 2,093.8385, 65% of initial level
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Pricing date: | Dec. 30
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Settlement date: | Jan. 3
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Agent: | Goldman Sachs & Co.
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Dealer: | Morgan Stanley Wealth Management
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Fees: | 3.875%
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Cusip: | 36259E515
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