Published on 9/6/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1 million index-linked notes on S&P, Dow, Nasdaq
By Kiku Steinfeld
Chicago, Sept. 8 – GS Finance Corp. priced $1 million of 0% index-linked notes due Sept. 3, 025 tied to the S&P 500 index, the Nasdaq-100 index and the Dow Jones industrial average, 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 110% of the least performing index return.
If any index falls by up to 46%, the payout will be par.
If any index falls by more than 46%, 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, Dow Jones industrial average, Nasdaq-100
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Amount: | $1,000,000
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Maturity: | Sept. 3, 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 above its initial level, par plus 110% of the least performing index return; if any index falls by up to 46%, par; if any index falls by more than 46%, full exposure to the decline of the least performing index
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Initial index levels: | 3,508.01 for S&P, 28,653.87 for Dow and 11,995.85 for Nasdaq
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Pricing date: | Aug. 28
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Settlement date: | Sept. 2
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 4.475%
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Cusip: | 40057CQ20
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