Published on 5/2/2019 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $362,000 index-linked notes tied to S&P, Russell
By Sarah Lizee
Olympia, Wash., May 2 – GS Finance Corp. priced $362,000 of 0% index-linked notes due May 3, 2024 linked to the lesser performing of the S&P 500 index and 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 return of each index is zero or positive, the payout at maturity will be $1,385 for each $1,000 note.
If either index falls by up to 40%, the payout will be par plus the absolute value of the return of the lesser performing index.
Otherwise, investors will be fully exposed to the decline of the lesser performing index.
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: | Index-linked notes
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Underlying indexes: | S&P 500, Russell 2000
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Amount: | $362,000
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Maturity: | May 3, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the return of each index is zero or positive, $1,385 for each $1,000 note; if either index falls by up to 40%, par plus the absolute value of the return of the lesser performing index; otherwise, investors will be fully exposed to the decline of the lesser performing index
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Initial levels: | 2,945.83 for S&P and 1,591.211 for Russell
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Pricing date: | April 30
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Settlement date: | May 3
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 1.39%
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Cusip: | 40056FAT2
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