Published on 5/8/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $3.59 million leveraged buffered notes on MSCI EAFE
By Marisa Wong
Morgantown, W.Va., May 8 – GS Finance Corp. priced $1.11 million of 0% leveraged buffered index-linked notes due June 1, 2020 tied to the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the index return is positive, the payout at maturity will be par plus 150% of the index return, capped at par plus 14.2%. Investors will receive par if the index falls by up to 10% and lose 1.1111% for every 1% decline in the index beyond 10%.
Goldman, Sachs & Co. is the underwriter.
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: | MSCI EAFE
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Amount: | $3,588,000
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Maturity: | June 1, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 150% of index return, capped at par plus 14.2%; par if index falls by up to 10%; 1.1111% loss for every 1% index decline beyond 10%
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Initial index level: | 1,917.35
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Final level: | Average of index closing levels on five trading days ending May 25, 2020
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Pricing date: | April 24
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Settlement date: | April 29
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Underwriter: | Goldman, Sachs & Co.
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Fees: | 0.35%
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Cusip: | 40056FCL7
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