Published on 1/15/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.45 million equity-linked notes on Citigroup
By Sarah Lizee
Olympia, Wash., Jan. 15 – GS Finance Corp. priced $1.45 million of 0% equity-linked notes due Jan. 27, 2021 tied to the common stock of Citigroup, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the stock finishes at or above its initial level, the payout will be par plus the return, capped at $1,138.00 for each $1,000 face amount.
If the stock declines by up to 20%, the payout will be par plus the absolute value of the stock’s return.
Otherwise, the payout will be par plus the return of the stock with full exposure to the decline.
Goldman, Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Equity-linked notes
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| Underlying stock: | Citigroup, Inc.
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| Amount: | $1.45 million
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| Maturity: | Jan. 27, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the stock finishes at or above its initial level, par plus the return, capped at $1,138.00 for each $1,000 face amount; if the stock declines by up to 20%, par plus the absolute value of the stock’s return; otherwise, par plus the return of the stock with full exposure to the decline
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| Initial index stock price: | $79.25
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| Pricing date: | Jan. 10
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| Settlement date: | Jan. 15
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| Underwriter: | Goldman, Sachs & Co.
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| Fees: | 1.1%
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| Cusip: | 40056YAN4
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