Published on 12/5/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.34 million index-linked notes on Nasdaq, S&P
By Taylor Fox
New York, Dec. 7 – GS Finance Corp. priced $1.34 million of 0% index-linked notes due Nov. 28, 2025 tied to the Nasdaq-100 index and the S&P 500 Value index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes above its initial level, the payout will be the greater of the threshold settlement amount of $1,200 or par plus the return of the lowest performing index.
If either index falls by up to 30%, the payout will be par plus the absolute value of the lesser performing index.
Otherwise, investors will lose 1% for every 1% decline of the lesser performing index from the initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
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: | Nasdaq-100 index and the S&P 500 Value index
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Amount: | $1,335,000
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Maturity: | Nov. 28, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes above its initial level, the payout will be the greater of the threshold settlement amount of $1,200 or par plus the index return; if either index falls by up to 30%, par plus absolute value of return of lesser performing index; 1% loss for every 1% decline of lesser performing index from the initial level
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Initial index levels: | 1,222.17 for S&P, 11,905.94 for Nasdaq
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Barrier level: | 70% of initial index levels
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Pricing date: | Nov. 23
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Settlement date: | Nov. 27
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 4.725%
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Cusip: | 40057EP50
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