Published on 1/6/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.25 million index-linked notes on Dow, S&P
By Sarah Lizee
Olympia, Wash., Jan. 6 – GS Finance Corp. priced $1.25 million of 0% index-linked notes due Dec. 31, 2024 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 1.04 times the return of the lesser performing index.
If the lesser performing index falls by up to 20%, the payout will be par plus the absolute value of the return of the lesser performing index.
If either index falls by more than 20%, investors will lose 1% for every 1% decline of the lesser performing index beyond 20%.
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: | $1,254,000
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Maturity: | Dec. 31, 2024
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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 1.04 times the return of the lesser performing index; if the lesser performing index falls by up to 20%, par plus the absolute value of the return of the lesser performing index; if either index falls by more than 20%, investors will lose 1% for every 1% decline of the lesser performing index beyond 20%
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Initial levels: | 3,239.91 for S&P, 28,621.39 for Russell
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Pricing date: | Dec. 26
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Settlement date: | Dec. 31
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 3.95%
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Cusip: | 40056XVR4
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