Published on 3/24/2020 in the Prospect News Structured Products Daily.
New Issue: GS prices $3 million buffered index-linked notes tied to S&P
Chicago, March 24 – GS Finance Corp. priced $3 million of 0% buffered index-linked notes due March 15, 2023 tied to 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 index closes above its initial level, the payout at maturity will be par plus the index return, capped at $1,350 per $1,000 of notes.
If the index finishes flat or falls by up to 20%, investors will receive par. Investors will lose 1% for every 1% decline beyond the 20% buffer.
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: | Buffered index-linked notes
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Underlying index: | S&P 500
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Amount: | $3 million
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Maturity: | March 15, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index closes above its initial level, par plus the index return, capped at $1,350 per $1,000 of notes; if the index finishes flat or falls by up to buffer level, par; otherwise, 1% loss for every 1% decline beyond the buffer
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Initial index levels: | 2,746.56
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Buffer level: | 80% of initial level
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Pricing date: | March 10
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Settlement date: | March 13
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.6%
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Cusip: | 40056YTE4
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