By Kiku Steinfeld
Chicago, Jan. 8 – GS Finance Corp. LLC priced $2 million of 0% buffered Performance Leveraged Upside Securities due April 7, 2025 linked to the worse performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If each index finishes above 118% of its initial level, the payout at maturity will be 31.8% of par plus 2.51% for each 1% that lesser-performing index finishes above 118% of its initial value, up to a maximum payout of par plus 82%.
If either index finishes at or below 118% of its initial level but above 98% of its initial level, the payout will be 7% of par plus 1.24% for each 1% that lesser-performing index finishes above 98% of its initial level.
If either index finishes at or below 98% of its initial level but at or above its downside threshold, 88% of its initial level, the payout will be 0.7% of par for each 1% that lesser-performing index finishes above 88%.
Otherwise, investors will be exposed to any losses beyond the downside threshold level.
Goldman Sachs & Co. is the underwriter, with Morgan Stanley Wealth Management acting as dealer.
| Issuer: | GS Finance Corp. LLC
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Performance Leveraged Upside Securities
|
| Underlying index: | S&P 500, Russell 2000
|
| Amount: | $2,000,000
|
| Maturity: | April 7, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes above 118% of its initial level, 31.8% of par plus 2.51% for each 1% that lesser-performing index finishes above 118% of its initial value, capped at par plus 82%; if either index finishes at or below 118% but above 98% of its initial level, 7% of par plus 1.24% for each 1% that lesser-performing index finishes above 98% of its initial level; if either index finishes at or below 98% of its initial level but at or above its 88% downside threshold, 0.7% of par for each 1% that lesser-performing index finishes above downside threshold.; otherwise, exposure to losses of worse performing index beyond downside threshold
|
| Initial levels: | Arithmetic average of the index closing level of index on each day of initial averaging period from Dec. 23 through March 24, 2020
|
| Final levels: | Arithmetic average of the index closing level of index on each day of final averaging period from Jan. 2, 2025 to April 2, 2025
|
| Downside thresholds: | 88% of initial levels
|
| Pricing date: | Dec. 26
|
| Settlement date: | Dec. 31
|
| Underwriter: | Goldman Sachs & Co.
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 1.35%
|
| Cusip: | 40056XYS9
|
|
|
|
|
|
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
