Published on 1/15/2020 in the Prospect News Structured Products Daily.
New Issue: GS prices $24.48 million index-linked notes tied to S&P
By Sarah Lizee
Olympia, Wash., Jan. 15 – GS Finance Corp. priced $24.48 million of 0% index-linked notes due Jan. 27, 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 the gain, capped at $1,070 per $1,000 of notes.
If the index finishes flat or falls by up to 82.82% of the initial level, investors will receive par plus the absolute value of the return of the index. Otherwise, investors will lose 1% for every 1% decline.
Goldman Sachs & Co. LLC is the agent. JPMorgan is the placement agent.
Issuer: | GS Finance Corp.
|
Guarantor: | Goldman Sachs Group, Inc.
|
Issue: | Index-linked notes
|
Underlying index: | S&P 500
|
Amount: | $24,479,000
|
Maturity: | Jan. 27, 2021
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If index closes above initial level, par plus gain, capped at $1,070 per $1,000 of notes; if index finishes flat or falls by up to 82.82% of the initial level, par plus the absolute value of the return of the index; otherwise, 1% loss for every 1% decline
|
Initial index levels: | 3,265.35
|
Pricing date: | Jan. 10
|
Settlement date: | Jan. 15
|
Agent: | Goldman Sachs & Co. LLC with JPMorgan as placement agent
|
Fees: | 1.1%
|
Cusip: | 40056YAK0
|
|
© 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.