Published on 8/1/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $470,000 index-linked notes on S&P 500, Russell
By Wendy Van Sickle
Columbus, Ohio, Aug. 1 – GS Finance Corp. priced $470,000 of 0% index-linked notes due July 30, 2024 linked to the lesser performing of the S&P 500 index and 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 return of each index is greater than or equal to its initial level, the payout will be par plus 27.5%.
If the return of either index is negative but by no more than 40% of its initial level, the payout will be par plus the absolute value of the return of the lesser-performing index.
Otherwise, investors will be fully exposed to the decline of the lesser performing index from 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: | Index-linked notes
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Underlying indexes: | S&P 500, Russell 2000
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Amount: | $470,000
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Maturity: | July 30, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index return is greater than or equal to initial level, par plus 27.5%; if either index return is negative but by no more than 40% of initial level, par plus absolute value of the lesser performing index return; otherwise, investors will be fully exposed to the decline of the lesser performing index
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Initial levels: | 3,003.67 for S&P and 1,561.449 for Russell
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Pricing date: | July 25
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Settlement date: | July 30
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 4.725%
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Cusip: | 40056FVC6
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