Published on 10/24/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $2 million capped buffer ingears tied to Russell, S&P
By Sarah Lizee
Olympia, Wash., Oct. 24 – GS Finance Corp. priced $2 million of 0% capped buffer ingears due July 6, 2023 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the final level of each index is greater than its downside threshold, 79% of its initial index level, the payout will be par plus the lesser performing index return plus 21% times the upside gearing of 0.7525, subject to the maximum settlement amount of $13.01 for each $10 face amount.
If the final level of any index is less than its downside threshold, investors will lose 1% for every 1% decline in the level of the lesser performing index beyond the downside threshold.
UBS Financial Services Inc. and Goldman Sachs & Co. LLC are the agents.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Capped buffer ingears
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| Underlying indexes: | Russell 2000, S&P 500
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| Amount: | $2 million
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| Maturity: | Oct. 7, 2024
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If the final level of each index is greater than its downside threshold, 79% of its initial index level, par plus the lesser performing index return plus 21% times the upside gearing of 0.7525, subject to the maximum settlement amount of $13.01 for each $10 face amount; if the final level of any index is less than its downside threshold, 1% loss for every 1% decline in the level of the lesser performing index beyond the downside threshold
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| Initial levels: | Initial level of each index will not be determined until the end of the initial averaging period, Jan. 15, 2020, and will equal the arithmetic average of its closing levels on each day during that period
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| Pricing date: | Oct. 18
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| Settlement date: | Oct. 23
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| Agents: | UBS Financial Services Inc. and Goldman Sachs & Co. LLC
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| Fees: | 1%
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| Cusip: | 36258L726
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