Published on 9/4/2020 in the Prospect News Structured Products Daily.
New Issue: Goldman prices $1.58 million leveraged buffered index-linked notes on Russell
By Sarah Lizee
Olympia, Wash., Sept. 4 – GS Finance Corp. priced $1.58 million of 0% leveraged buffered index-linked notes due March 3, 2022 tied to the Russell 2000 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, par plus 1.5 times the index gain, capped at $1,145 per $1,000 of notes.
If the index return is flat or falls by up to 10%, investors will receive par. Investors will lose 1% for every 1% decline beyond 10%.
Goldman Sachs & Co. LLC is the agent.
Issuer: | GS Finance Corp.
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Issue: | Leveraged buffered index-linked notes
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Underlying index: | Russell 2000
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Amount: | $1,581,000
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Maturity: | March 3, 2022
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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 1.5 times the index gain, capped at $1,145 per $1,000 of notes; if index return is flat or falls by up to 10%, par; 1% loss for every 1% decline beyond 10%
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Initial index level: | 1,561.876
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Buffer level: | 90% of initial level
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Pricing date: | Aug. 31
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Settlement date: | Sept. 3
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Agent: | Goldman Sachs & Co. LLC
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Fees: | Up to 1.05%
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Cusip: | 40057CHY0
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