Published on 12/4/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $2.44 million leveraged notes linked to the Dow
By Wendy Van Sickle
Columbus, Ohio, Dec. 4 – GS Finance Corp. priced $2.44 million of 0% leveraged index-linked notes due Dec. 2, 2025 tied to the Dow Jones industrial average, 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 1.5 times the gain.
If the index finishes flat or falls by up to 25%, investors will receive par plus the absolute value of the decline. Otherwise, investors will be fully exposed to the index decline.
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 index-linked notes
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Underlying index: | Dow Jones industrial average
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Amount: | $2,442,000
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Maturity: | Dec. 2, 2025
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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 1.5 times gain; if index finishes flat or falls by up to 25%, par plus absolute value of return; otherwise, full exposure to decline
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Initial index level: | 27,875.62
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Pricing date: | Nov. 22
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Settlement date: | Nov. 29
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.375%
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Cusip: | 40056XKR6
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