Published on 9/14/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $350,000 index-linked notes on Dow, Nasdaq, S&P
By Kiku Steinfeld
Chicago, Sept. 14 – GS Finance Corp. priced $350,000 of 0% index-linked notes due Sept. 6, 2023 tied to the Dow Jones industrial average, the Nasdaq-100 index 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 above 131% of its initial level, the payout will be $1,310 per each $1,000 principal amount of notes.
If each index finishes above its initial level but any index finishes below 131% of its initial level, the payout will be par plus the return of the least-performing index.
If any index finishes below its initial level, investors will be exposed to the decline of the least-performing index, subject to a minimum payout of $800 per each $1,000 principal amount of notes.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Index-linked notes
|
| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 and S&P 500
|
| Amount: | $350,000
|
| Maturity: | Sept. 6, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above 131% of its initial level, $1,310 per each $1,000 principal amount of notes; if each index finishes above its initial level but any index finishes below 131% of its initial level, par plus the return of the least-performing index; if any index finishes below its initial level, investors will be exposed to the decline of the least-performing index, subject to a minimum payout of $800 per each $1,000 principal amount of notes
|
| Initial levels: | 28,430.05 for Dow, 12,110.700 for Nasdaq and 3,500.31 for S&P
|
| Pricing date: | Aug. 31
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| Settlement date: | Sept. 3
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.5%
|
| Cusip: | 40057CQ53
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