Published on 7/8/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $10.18 million digital index-linked notes due 2021 on S&P
By Kiku Steinfeld
Chicago, July 8 – GS Finance Corp. priced $10.18 million of 0% digital index-linked notes due July 28, 2021 linked to 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 the index closes at or above 80% of its initial level, the payout at maturity will be $1,071 per $1,000 note.
Otherwise, investors will lose 1.25% for every 1% decline of the index beyond 20%.
Goldman Sachs & Co. LLC is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Digital index-linked notes
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Underlying index: | S&P 500 index
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Amount: | $10,175,000
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Maturity: | July 28, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index closes at or above buffer level, $1,071 per $1,000 note; otherwise, 1.25% loss for every 1% decline beyond buffer
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Initial index level: | 3,083.76
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Buffer level: | 80% of initial level
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Pricing date: | June 25
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Settlement date: | July 2
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 0.95%
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Cusip: | 40057CCD1
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