Published on 10/7/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $2.76 million leveraged index-linked notes on S&P
By Wendy Van Sickle
Columbus, Ohio, Oct. 7 – GS Finance Corp. priced $2.76 million of 0% leveraged index-linked notes due Oct. 5, 2023 tied 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.
The payout at maturity will be par plus 3 times any index gain, subject to a maximum settlement amount of $1,266 per $1,000 principal amount of notes.
If the index falls by up to 25%, the payout will be par.
If the index falls by more than 25%, investors will be fully exposed to the decline.
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: | Leveraged index-linked notes
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Underlying index: | S&P 500 index
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Amount: | $2,758,000
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Maturity: | Oct. 5, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 3 times any index gain, up to $1,266 per $1,000 principal amount of notes; if the index falls by up to 25%, par; if the index falls by more than 25%, investors will be fully exposed to the decline
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Initial index level: | 3,380.8
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Trigger level: | 75% of initial level
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Pricing date: | Oct. 1
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Settlement date: | Oct. 6
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 2.925%
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Cusip: | 40057EE52
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