Published on 2/14/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $435,000 buffered notes on S&P 500
By Wendy Van Sickle
Columbus, Ohio, Feb. 14 – GS Finance Corp. priced $435,000 of 0% buffered index-linked notes due May 12, 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, up to $1,080 per $1,000 note.
If the index finishes flat or falls by up to 10%, investors will receive par plus the absolute value of the index return. Otherwise, investors will lose 1% for every 1% decline of the index beyond 10%.
Goldman Sachs & Co. LLC is the agent.
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: | $435,000
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Maturity: | May 12, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index closes above initial level, par plus gain, up to $1,080 per $1,000 note; if index finishes flat or falls by up to buffer level, par plus absolute value of the index return; 1% loss for every 1% decline of index beyond buffer
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Initial index level: | 3,327.71
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Buffer level: | 90% of initial level
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Pricing date: | Feb. 7
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Settlement date: | Feb. 12
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.35%
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Cusip: | 40056YDW1
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