Published on 11/26/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $500,000 leveraged buffered digital notes on S&P, Russell
By Sarah Lizee
Olympia, Wash., Nov. 26 – GS Finance Corp. priced $500,000 of 0% leveraged buffered digital index-linked notes due Nov. 21, 2024 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its initial level, the payout at maturity will be the greater of the threshold settlement amount of $1,250 per $1,000 principal amount and par plus 1.23 times the return of the lesser performing index.
Investors will receive par if either index falls by up to 30% and will otherwise lose 1% for each 1% decline of the worse performing index beyond 30%.
Goldman Sachs Group, Inc. is the guarantor.
Goldman Sachs & Co. is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Leveraged buffered digital notes
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Underlying assets: | S&P 500 index and Russell 2000 index
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Amount: | $500,000
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Maturity: | Nov. 21, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes at or above its initial level, the greater of the threshold settlement amount of $1,250 per $1,000 principal amount and par plus 1.23 times the return of the lesser performing index; par if either index falls by up to 30%; otherwise, 1% loss for each 1% decline of the worse performing index beyond 30%
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Initial index levels: | 2,736.27 for S&P and 1,527.533 for Russell
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Pricing date: | Nov. 16
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Settlement date: | Nov. 21
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Agent: | Goldman Sachs & Co.
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Fees: | 0.975%
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Cusip: | 40056EH27
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