Published on 11/20/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $786,000 leveraged buffered notes on Russell 2000
By Wendy Van Sickle
Columbus, Ohio, Nov. 20 – GS Finance Corp. priced $786,000 of 0% leveraged buffered index-linked notes due May 24, 2021 tied to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the index closes above its initial level, the payout at maturity will be par plus 2 times the gain, up to a maximum payout of $1,118 per $1,000 of notes.
If the index finishes flat or falls by up to 10%, investors will receive par. Investors will lose 1% for every 1% decline beyond 10% of its initial level.
Goldman Sachs & Co. LLC is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Leveraged buffered index-linked notes
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Underlying index: | Russell 2000
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Amount: | $786,000
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Maturity: | May 24, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index closes above initial level, par plus 2 times gain, up to maximum settlement amount of $1,118 per $1,000 of notes; if index finishes flat or falls by up to 10%, par; 1% loss for every 1% decline beyond 10%
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Initial index level: | 1,596.454
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Buffer level: | 90% of initial level
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Pricing date: | Nov. 15
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Settlement date: | Nov. 22
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 1.65%
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Cusip: | 40056XPV2
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