Published on 8/26/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $6.3 million leveraged buffered notes tied to MSCI EAFE index
By Kiku Steinfeld
Chicago, Aug. 26 – GS Finance Corp. priced $6.3 million of 0% leveraged buffered index-linked notes due March 22, 2021 tied to the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be 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, subject to a maximum settlement amount of par plus 115.5%. Investors will receive par if the index finishes flat or falls by up to 20% and lose 1.25% for every 1% decline in the index beyond 20%.
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 index-linked notes
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Underlying index: | MSCI EAFE index
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Amount: | $6,300,000
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Maturity: | March 22, 2021
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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, subject to a maximum settlement amount of par plus 115.5%; par if index finishes flat or falls by up to 20%; 1.25% loss for every 1% decline in index beyond 20%
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Initial index level: | $1,812.99
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Buffer level: | 80% of initial level
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Pricing date: | Aug. 14
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Settlement date: | Aug. 21
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Agent: | Goldman, Sachs & Co. LLC
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Fees: | 0.15%
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Cusip: | 40056X4C7
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