Published on 6/29/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $448,000 underlier-linked notes on index, ETF
By Sarah Lizee
Olympia, Wash., June 24 – GS Finance Corp. priced $448,000 of 0% underlier-linked notes due June 29, 2023 linked to the Euro Stoxx 50 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the return of each underlier is zero or positive, the payout at maturity will be par plus 1.8 times the return of the lesser performer.
If the return of each underlier is negative but greater than or equal to negative 10%, the payout will be par.
If either underlier falls by more than 10%, investors will be exposed to the decline of the lesser performer beyond 10%.
Goldman Sachs & Co. LLC is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Underlier-linked notes
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Underlying assets: | Euro Stoxx 50 index, iShares MSCI EAFE ETF
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Amount: | $448,000
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Maturity: | June 29, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the return of each underlier is zero or positive, par plus 1.8 times the return of the lesser performer; if the return of each underlier is negative but greater than or equal to negative 10%, par; if either underlier falls by more than 10%, investors will be exposed to the decline of the lesser performer beyond 10%
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Initial levels: | $60.52 for ETF, 3,196.12 for S&P
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Buffer levels: | 90% of initial levels
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Pricing date: | June 24
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Settlement date: | June 29
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 1.45%
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Cusip: | 40057CBR1
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