Published on 10/23/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $2.03 million leveraged buffered notes on Russell 2000
By Wendy Van Sickle
Columbus, Ohio, Oct. 23 – GS Finance Corp. priced $2.03 million of 0% leveraged buffered index-linked notes due April 26, 2021 tied to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
If the index return is positive, the payout at maturity will be par plus double the index return, subject to a maximum payment of $1,142.50 per $1,000 principal amount.
If the index falls by up to 10%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline in the index beyond 10%.
Goldman Sachs & Co. LLC is the agent.
Issuer: | GS Finance Corp.
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Issue: | Leveraged buffered index-linked notes
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Underlying index: | Russell 2000
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Amount: | $2,029,000
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Maturity: | April 26, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus double index return, subject to maximum payment of $1,142.50 per $1,000 principal amount; par if index falls by up to 10%, 1% loss for every 1% index decline beyond 10%
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Initial index level: | 1,535.482
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Pricing date: | Oct. 18
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Settlement date: | Oct. 25
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Agent: | Goldman, Sachs & Co. LLC
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Fees: | 1.55%
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Cusip: | 40056XJX5
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