By Kiku Steinfeld
Chicago, Jan. 8 – GS Finance Corp. LLC priced $2 million of 0% buffered Performance Leveraged Upside Securities due April 7, 2025 linked to the worse performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If each index finishes above 118% of its initial level, the payout at maturity will be 31.8% of par plus 2.51% for each 1% that lesser-performing index finishes above 118% of its initial value, up to a maximum payout of par plus 82%.
If either index finishes at or below 118% of its initial level but above 98% of its initial level, the payout will be 7% of par plus 1.24% for each 1% that lesser-performing index finishes above 98% of its initial level.
If either index finishes at or below 98% of its initial level but at or above its downside threshold, 88% of its initial level, the payout will be 0.7% of par for each 1% that lesser-performing index finishes above 88%.
Otherwise, investors will be exposed to any losses beyond the downside threshold level.
Goldman Sachs & Co. is the underwriter, with Morgan Stanley Wealth Management acting as dealer.
Issuer: | GS Finance Corp. LLC
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Performance Leveraged Upside Securities
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Underlying index: | S&P 500, Russell 2000
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Amount: | $2,000,000
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Maturity: | April 7, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes above 118% of its initial level, 31.8% of par plus 2.51% for each 1% that lesser-performing index finishes above 118% of its initial value, capped at par plus 82%; if either index finishes at or below 118% but above 98% of its initial level, 7% of par plus 1.24% for each 1% that lesser-performing index finishes above 98% of its initial level; if either index finishes at or below 98% of its initial level but at or above its 88% downside threshold, 0.7% of par for each 1% that lesser-performing index finishes above downside threshold.; otherwise, exposure to losses of worse performing index beyond downside threshold
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Initial levels: | Arithmetic average of the index closing level of index on each day of initial averaging period from Dec. 23 through March 24, 2020
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Final levels: | Arithmetic average of the index closing level of index on each day of final averaging period from Jan. 2, 2025 to April 2, 2025
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Downside thresholds: | 88% of initial levels
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Pricing date: | Dec. 26
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Settlement date: | Dec. 31
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Underwriter: | Goldman Sachs & Co.
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Dealer: | Morgan Stanley Wealth Management
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Fees: | 1.35%
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Cusip: | 40056XYS9
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