Published on 8/7/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $260,000 index-linked notes linked to Dow, S&P
By Wendy Van Sickle
Columbus, Ohio, Aug. 7 – GS Finance Corp. priced $260,000 of 0% index-linked notes due July 31, 2025 tied to the S&P 500 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.
If each index finishes at or above its initial level, the payout at maturity will be par plus the greater of the return of the lesser performing index and 30%.
If either index finishes below its initial level by up to 30%, the payout will be par.
Otherwise, investors will be exposed to the decline of the least performing index.
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 index and Dow Jones industrial average
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Amount: | $260,000
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Maturity: | July 31, 2025
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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 its initial level, par plus greater of return of the lesser performing index and 30%; if either index finishes below its initial level by up to 30%, par; investors will be exposed to the decline of the least performing index
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Initial index levels: | 3,218.44 for S&P, 26,379.28 for Dow
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Pricing date: | July 28
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Settlement date: | July 31
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 4.45%
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Cusip: | 40057CEM9
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