Published on 6/19/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.34 million leveraged buffered notes on EM ETF
By Kiku Steinfeld
Chicago, June 19 – GS Finance Corp. priced $1.34 million of 0% leveraged buffered notes due June 24, 2020 linked 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 1.5 times any gain, capped at $1,147 per $1,000 of notes.
If the ETF return is flat or falls by up to 10%, investors will receive par. Investors will lose 1.1111% for every 1% decline beyond 10%.
Goldman Sachs & Co. LLC is the agent. JPMorgan Securities LLC is the placement agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Leveraged buffered notes
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Underlying ETF: | iShares MSCI Emerging Markets ETF
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Amount: | $1,340,000
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Maturity: | June 24, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.5 times any gain, capped at $1,147 per $1,000 of notes; par if the ETF falls by up to 10%; 1% loss for every 1% decline beyond 10%
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Initial level: | $41.18
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Final level: | Average of index closing levels on five trading days ending June 19, 2020
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Pricing date: | June 7
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Settlement date: | June 12
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Agent: | Goldman Sachs & Co. LLC
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Placement agent: | JPMorgan Securities LLC
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Fees: | 1.1%
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Cusip: | 40056FNX9
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