Published on 10/2/2019 in the Prospect News Structured Products Daily.
New Issue: GS prices $3.02 million leveraged buffered trust-linked notes tied to SPDR S&P MidCap 400
By Kiku Steinfeld
Chicago, Oct. 2 – GS Finance Corp. priced $3.02 million of 0% leveraged buffered trust-linked notes due Feb. 25, 2021 tied to the SPDR S&P MidCap 400 ETF trust, 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 1.5 times the fund return, subject to a maximum payment of $1,137 per $1,000 principal amount of notes.
Investors will receive par if the fund finishes flat or falls by up to 15% and lose 1% for every 1% decline in the fund beyond 15% of initial level.
Goldman Sachs & Co. LLC. is the agent.
| Issue: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Leveraged buffered trust-linked notes
|
| Underlying fund: | SPDR S&P MidCap 400 ETF Trust
|
| Amount: | $3,015,000
|
| Maturity: | Feb. 25, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If fund return is positive, par plus 1.5 times fund return, subject to maximum payment of $1,137 per $1,000 principal amount; par if fund finishes flat or falls by up to 15%;1% loss for every 1% decline in fund beyond 15% of initial level
|
| Initial fund level: | $344.36
|
| Buffer level: | 85% of initial level
|
| Pricing date: | Aug. 22
|
| Settlement date: | Aug. 27
|
| Agent: | Goldman, Sachs & Co. LLC
|
| Fees: | 0.1%
|
| Cusip: | 40056X5K8
|
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