Published on 10/11/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2 million leveraged buffered notes on iShares EM
By Sarah Lizee
Olympia, Wash., Oct. 11 – GS Finance Corp. priced $2 million of 0% leveraged buffered ETF-linked notes due Oct. 13, 2022 tied to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the ETF return is positive, the payout at maturity will be par plus 150% of the ETF return, subject to a maximum payment of $1,862.50 per $1,000 principal amount. Investors will receive par if the ETF falls by up to 10% and lose 1% for every 1% decline in the ETF beyond 10%.
Goldman Sachs & Co. is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Leveraged buffered ETF-linked notes
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Underlying ETF: | iShares MSCI Emerging Markets ETF
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Amount: | $2 million
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Maturity: | Oct. 13, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If ETF return is positive, par plus 150% of ETF return, subject to maximum payment of $1,862.50 per $1,000 principal amount; par if ETF falls by up to 10%; 1% loss for every 1% decline in ETF beyond 10%
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Initial price: | $40.75
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Pricing date: | Oct. 9
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Settlement date: | Oct. 12
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Underwriter: | Goldman Sachs & Co.
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Fees: | 0.3%
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Cusip: | 40056EA57
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