Published on 1/27/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.21 million leveraged buffered notes on Russell 2000
By Kiku Steinfeld
Chicago, Jan. 27 – GS Finance Corp. priced $2.21 million of 0% leveraged buffered index-linked notes due March 18, 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, the payout at maturity will be par plus 300% of the index return, subject to a maximum payment of $1,177 per $1,000 principal amount of notes. Investors will receive par if the index falls by up to 10% and lose 1.1111% for every 1% decline in the index beyond 10%.
Goldman, Sachs & Co. LLC is the underwriter.
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: | Russell 2000
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Amount: | $2,205,000
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Maturity: | March 18, 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 300% of index return, subject to maximum payment of $1,177 per $1,000 principal amount of notes; par if index falls by up to 10%; 1.1111% loss for every 1% decline in index beyond 10%
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Initial index level: | 1,705.215
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Buffer level | 90% of initial level
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Pricing date: | Jan. 16
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Settlement date: | Jan. 24
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Underwriter: | Goldman, Sachs & Co. LLC
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Fees: | 1.805%
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Cusip: | 40056YB60
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