Published on 5/8/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $4.05 million capped trigger securities on basket of 20 stocks
By Sarah Lizee
Olympia, Wash., May 8 – GS Finance Corp. priced $4.05 million of 0% capped trigger securities due May 4, 2023 linked to a basket of 20 stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The stocks included in the basket are Abbott Laboratories, Adobe Inc., Amazon.com, Inc., Amgen Inc., Apple Inc., Bristol-Myers Squibb Co., Eli Lilly and Co., Facebook, Inc., Alphabet Inc., Intel Corp., Johnson & Johnson, Medtronic plc, Microsoft Corp., Netflix, Inc., Nvidia Corp., Pfizer Inc., Stryker Corp., Thermo Fisher Scientific Inc., UnitedHealth Group Inc. and Walmart Inc., each with a 5% weight.
If the basket return is positive, the payout will be par plus the return, capped at $18.20 per $10.00 note.
If the basket falls by up to 30%, the payout will be par.
If the basket falls by more than 30%, investors will be fully exposed to the decline of the basket.
Goldman Sachs & Co. LLC is the underwriter with UBS Financial Services Inc. as selling agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Capped trigger securities
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| Underlying stocks: | Abbott Laboratories, Adobe Inc., Amazon.com, Inc., Amgen Inc., Apple Inc., Bristol-Myers Squibb Co., Eli Lilly and Co., Facebook, Inc., Alphabet Inc., Intel Corp., Johnson & Johnson, Medtronic plc, Microsoft Corp., Netflix, Inc., Nvidia Corp., Pfizer Inc., Stryker Corp., Thermo Fisher Scientific Inc., UnitedHealth Group Inc. and Walmart Inc., each with a 5% weight
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| Amount: | $4,046,000
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| Maturity: | May 4, 2023
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If the basket return is positive, par plus the return, capped at $18.20 per $10.00 note; if the basket falls by up to 30%, par; if the basket falls by more than 30%, investors will be fully exposed to the decline of the basket
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| Initial prices: | $89.85 for Abbott, $343.84 for Adobe, $2,286.04 for Amazon, $230.98 for Amgen, $289.07 for Apple, $60.26 for Bristol, $153.63 for Eli, $202.27 for Facebook, $1,317.32 for Alphabet, $57.47 for Intel, $148.29 for Johnson, $95.14 for Medtronic, $174.57 for Microsoft, $415.27 for Netflix, $282.78 for Nvidia, $37.64 for Pfizer, $180.62 for Stryker, $329.81 for Thermo, $284.51 for UnitedHealth, $122.92 for Walmart
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| Downside threshold: | 70% of initial basket level
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| Pricing date: | May 1
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| Settlement date: | May 6
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| Underwriter: | Goldman Sachs & Co. LLC with UBS Financial Services Inc. as selling agent
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| Fees: | 0.175%
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| Cusip: | 36259J191
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