Published on 11/21/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.47 million leveraged buffered basket-linked notes on ETFs
Chicago, Nov. 21 – GS Finance Corp. priced $2.47 million of 1.5% fixed-coupon leveraged buffered notes due Nov. 12, 2021 linked to a basket of ETFs, according to a 424B2 filing with the Securities and Exchange Commission.
The fixed coupon will be paid annually.
The basket consists of the iShares MSCI EAFE ETF (40% weight), the SPDR S&P MidCap 400 (30% weight), the iShares Russell 2000 ETF (15% weight) and iShares MSCI Emerging Markets ETF (15% weight).
The payout at maturity will be par plus 1.5 times the basket gain, up to a maximum settlement amount of $1,098 per $1,000 principal amount of notes.
Investors will receive par if the basket finishes flat or falls by up to 15% and will lose 1% for every 1% decline beyond 15%.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Fixed coupon leveraged buffered basket-linked notes
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| Underlying ETFs: | iShares MSCI EAFE ETF (40% weight), the SPDR S&P MidCap 400 (30% weight), the iShares Russell 2000 ETF (15% weight) and iShares MSCI Emerging Markets ETF (15% weight)
|
| Amount: | $2,470,000
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| Maturity: | Nov. 12, 2021
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| Coupon: | 1.5%, payable annually
|
| Price: | Par
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| Payout at maturity: | If basket return is positive, par plus 1.5 times the basket gain, up to a maximum settlement amount of $1,098 per $1,000 principal amount of notes; par if basket finishes flat or declines by up to 15%; 1% loss for every 1% decline beyond 15%
|
| Initial levels: | $68.21 for EAFE, $362.70 for MidCap, $158.23 for Russell and $43.76 for EM ETF
|
| Buffer levels: | 85% of initial levels
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| Pricing date: | Nov. 6
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| Settlement date: | Nov. 12
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.175%
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| Cusip: | 40056XP75
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