Published on 2/25/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $573,000 index-linked notes on Dow, S&P
By Sarah Lizee
Olympia, Wash., Feb. 25 – GS Finance Corp. priced $573,000 of 0% index-linked notes due Feb. 21, 2025 tied to the Dow Jones industrial average 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 each index finishes at or its initial level, the payout at maturity will be par plus 1.36 times the return of the lesser performing index.
If the lesser performing index falls by up to 30%, the payout will be par.
If either index falls by more than 30%, investors will lose 1% for every 1% 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: | Dow Jones industrial average and S&P 500
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Amount: | $573,000
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Maturity: | Feb. 21, 2025
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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 its initial level, par plus 1.36 times the return of the lesser performing index; if the lesser performing index falls by up to barrier, par; if either index falls by more than barrier level, 1% loss for every 1% decline of the lesser performing index
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Initial levels: | 29,232.19 for Dow, 3,370.29 for S&P
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Barrier levels: | 70% of initial levels
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Pricing date: | Feb. 18
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Settlement date: | Feb. 21
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 4.1%
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Cusip: | 40056YJ96
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