Published on 10/13/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $575,000 leveraged buffered notes on basket of two indexes
By Kiku Steinfeld
Chicago, Oct. 13 – GS Finance Corp. priced $575,000 of 0% leveraged buffered basket-linked notes due Oct. 5, 2022 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Nasdaq-100 index with a 60% weight and the Euro Stoxx 50 index with a 40% weight.
The payout at maturity will be par plus 2 times the basket gain up to a maximum return of $1,212.50 per note.
Investors will receive par if the basket finishes flat or falls by up to 10% and will lose 1% for every 1% decline beyond 10%.
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 basket-linked notes
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Underlying basket: | Nasdaq-100 index with a 60% weight and the Euro Stoxx 50 index with a 40% weight
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Amount: | $575,000
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Maturity: | Oct. 5, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If basket return is positive, par plus 2 times basket gain, capped at $1,212.50 per note; par if basket finishes flat or declines by up to 10%; 1% loss for every 1% decline beyond 10%
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Initial levels: | 11,418.06 for Nasdaq-100 and 3,193.61 for Euro Stoxx 50
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Buffer level: | 90% of initial level
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Pricing date: | Sept. 30
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Settlement date: | Oct. 5
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.975%
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Cusip: | 40057CXF3
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