Published on 2/6/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $2 million buffered PLUS tied to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Feb. 6 – GS Finance Corp. LLC priced $2 million of 0% buffered Performance Leveraged Upside Securities due Oct. 3, 2024 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 at or above 82% of its initial level, the payout at maturity will be par plus 1.03 times the sum of the worse performing index’s return plus 18%, subject to a maximum payout of $1,412.
Investors will be exposed to losses of the lesser-performing index beyond 18%.
Goldman Sachs & Co. is the underwriter, with Morgan Stanley Wealth Management acting as dealer.
| Issuer: | GS Finance Corp. LLC
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Performance Leveraged Upside Securities
|
| Underlying index: | S&P 500, Russell 2000
|
| Amount: | $2 million
|
| Maturity: | Oct. 3, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above 82% of its initial level, par plus 1.03 times the sum of the worse performing index’s return plus 18%, subject to a maximum payout of $1,412; exposure to losses beyond 18%
|
| Initial levels: | Arithmetic average of the index closing level of index on each day of initial averaging period from Jan. 27 through April 24, 2020
|
| Final levels: | Arithmetic average of the index closing level of index on each day of final averaging period from July 2, 2024 to Sept. 30, 2024
|
| Downside thresholds: | 82% of initial levels
|
| Pricing date: | Jan. 30
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| Settlement date: | Feb. 4
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| Underwriter: | Goldman Sachs & Co.
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 1.3%
|
| Cusip: | 40056YFB5
|
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