Published on 12/26/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $538,000 index-linked notes tied to S&P 500, Russell
By Sarah Lizee
Olympia, Wash., Dec. 26 – GS Finance Corp. priced $538,000 of 0% index-linked notes due Dec. 27, 2023 tied to the lesser 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 return of each index is positive, the payout at maturity will be par plus 1.4 times the index return of the lesser performing index.
If the lesser performing index falls by up to 50%, the payout will be par.
Otherwise, investors will be fully exposed to the loss of the lesser performing index.
Goldman Sachs & Co. is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Index-linked notes
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $538,000
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Maturity: | Dec. 27, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If return of each index is positive, par plus 1.4 return of the lesser performing index; if the lesser performing index falls by up to 50%, par; otherwise, full exposure to the loss of the lesser performing index
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Initial levels: | 2,416.62 for S&P, 1,292.086 for Russell
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Pricing date: | Dec. 21
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Settlement date: | Dec. 27
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Underwriter: | Goldman Sachs & Co.
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Fees: | 4.08%
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Cusip: | 40056EKB3
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