Published on 11/5/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.16 million index-linked notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Nov. 5 – GS Finance Corp. priced $1.16 million of 0% index-linked notes due May 4, 2022 linked to the S&P 500 index and 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 each index return is zero or positive, the payout at maturity will par plus 1.3 times the laggard index return.
If the laggard index falls by up to 30%, the payout will be par plus the absolute value of the laggard index return. If the laggard index falls by more than 30%, investors will be fully exposed to the decline of the laggard index.
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: | Index-linked notes
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Underlying indexes: | S&P 500 index, Russell 2000 index
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Amount: | $1,162,000
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Maturity: | May 4, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If laggard index return is zero or positive, par 1.3 times laggard index return; if laggard index falls by up to 30%, par plus absolute value of laggard index return; otherwise, full exposure to losses of laggard index
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Initial values: | 2,711.74 for S&P, 1,511.413 for Russell
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Pricing date: | Oct. 31
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Settlement date: | Nov. 5
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Underwriter: | Goldman, Sachs & Co. LLC
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Fees: | 1.09%
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Cusip: | 40056E6F0
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