Published on 4/9/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $616,000 index-linked notes on Dow, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, April 9 – GS Finance Corp. priced $616,000 of 0% index-linked notes due April 5, 2022 tied to the Dow Jones industrial average and the Nasdaq-100 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 its initial level, the payout will be par plus 1.4 times the return of the lesser performing index.
If either index falls by up to 10%, the payout will be par.
Otherwise, investors will be exposed to any losses of the worst-performing index beyond 10%.
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 Nasdaq-100 index
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Amount: | $616,000
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Maturity: | April 5, 2022
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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 initial level, par plus 1.4 times the return of the lesser performing index; if either index falls by up to 10%, par; exposed to losses of worst-performing index beyond 10%
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Initial levels: | 21,917.16 for Dow, 7,813.499 for Nasdaq
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Pricing date: | March 31
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Settlement date: | April 3
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.975%
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Cusip: | 40056YXD1
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