Published on 12/9/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.71 million index-linked notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Dec. 9 – GS Finance Corp. priced $1.71 million of 0% index-linked notes due Nov. 28, 2025 linked 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.
The payout at maturity will be par plus 1.2 times any gain of the least-performing index. If the least performing index falls by up to 40%, the payout will be par. If any index finishes below 60% of its initial level, investors will be fully exposed to the decline of the least performing index from its initial level.
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, Nasdaq-100 and Dow Jones industrial average
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Amount: | $1,714,000
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Maturity: | Nov. 28, 2025
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Contingent coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.2 times any gain of the least-performing index; par if least performing index falls by up to 40%; otherwise, full exposure to the decline of the least performing index from its initial level
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Initial index levels: | 3,635.41 for S&P, 30,046.24 for Dow and 12,079.81 for Nasdaq
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Trigger buffer levels: | 60% of initial levels
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Pricing date: | Nov. 24
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Settlement date: | Nov. 30
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 4.39%
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Cusip: | 40057EJY4
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