Published on 2/10/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $3.56 million capped trigger in-step notes tied to Russell
By Sarah Lizee
Olympia, Wash., Feb. 10 – GS Finance Corp. priced $3.56 million of 0% capped trigger in-step securities due Feb. 2, 2023 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
If the underlying index finishes at or above its 80% downside threshold, the payout at maturity will be par of $10 plus the greater of the 10% step return and any gain in the index, capped at $13.02 per $10.00 note.
Otherwise, investors will be fully exposed to any losses of the index.
Goldman Sachs & Co. LLC is the underwriter and UBS Financial Services Inc. is the selling agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Capped trigger in-step securities
|
| Underlying index: | Russell 2000 index
|
| Amount: | $3,560,250
|
| Maturity: | Feb. 2, 2023
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index finishes at or above 80% downside threshold, par plus greater of 10% and index return, capped at $13.02 per $10.00 note; otherwise, 1% loss per 1% decline
|
| Initial level: | 1,658.314
|
| Downside threshold/step barrier: | 1,326.651, 80% of initial level
|
| Pricing date: | Jan. 28
|
| Settlement date: | Jan. 31
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Selling agent: | UBS Financial Services Inc.
|
| Fees: | 2.5%
|
| Cusip: | 36259H278
|
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