Published on 9/2/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.15 million index-linked notes on S&P, Russell, Nasdaq
By Kiku Steinfeld
Chicago, Sept. 2 – GS Finance Corp. priced $1.15 million of 0% index-linked notes due Aug. 24, 2023 tied to the S&P 500 index, the Nasdaq-100 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 each index finishes at or above its initial level, the payout at maturity will be par plus 126% of the least performing index return.
If any index falls by up to 30%, the payout will be par plus the absolute value of the return of the least performing index.
If any index falls by more than 30%, investors will be fully exposed to the decline of the least 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, Nasdaq-100
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Amount: | $1,145,000
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Maturity: | Aug. 24, 2023
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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, par plus 126% of the least performing index return; if any index falls by up to 30%, par plus the absolute value of the return of the least performing index; if any index falls by more than 30%, investors will be fully exposed to the decline of the least performing index
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Initial index levels: | 3,397.16 for S&P, 1,552.476 for Russell and 11,555.160 for Nasdaq
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Coupon trigger: | 70% of initial levels
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Pricing date: | Aug. 21
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Settlement date: | Aug. 26
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.745%
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Cusip: | 40057CPE5
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