Published on 8/13/2019 in the Prospect News Structured Products Daily.
New Issue: GS prices $5.34 million leveraged buffered ETF-linked notes tied to MSCI EAFE
By Kiku Steinfeld
Chicago, Aug. 13 – GS Finance Corp. priced $5.34 million of 0% leveraged buffered fund-linked notes due May 6, 2021 tied to the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
If the fund return is positive, the payout at maturity will be par plus 150% of the fund return, subject to a maximum payment of $1,216 per $1,000 principal amount. Investors will receive par if the fund finishes flat or falls by up to 10% and lose 1% for every 1% decline in the fund beyond 10%.
Goldman Sachs & Co. LLC. is the agent.
Issuer: | GS Finance Corp.
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Issue: | Leveraged buffered ETF-linked notes
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Underlying fund: | iShares MSCI EAFE ETF
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Amount: | $5,339,000
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Maturity: | May 6, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If fund return is positive, par plus 150% of fund return, subject to maximum payment of $1,216 per $1,000 principal amount; par if fund finishes flat or falls by up to 10%;1% loss for every 1% decline in fund beyond 10%
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Initial fund level: | $63.70
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Buffer level: | 90% of initial level
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Pricing date: | Aug. 2
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Settlement date: | Aug. 7
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Agent: | Goldman, Sachs & Co. LLC
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Fees: | 0.15%
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Cusip: | 40056FV93
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