Published on 10/12/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.55 million index-linked notes on S&P 500, the Dow
By Marisa Wong
Los Angeles, Oct. 12 – GS Finance Corp. priced $1.55 million of 0% index-linked notes due Sept. 30, 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 return of the lesser performing index, capped at par plus 85%.
If either index falls but neither falls by more than 15%, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the lesser performing index beyond 15%.
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, Dow Jones industrial average
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Amount: | $1,545,000
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Maturity: | Sept. 30, 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 return of the lesser performing index, capped at par plus 85%; if either index falls but neither falls by more than 15%, par; otherwise, 1% loss for every 1% decline of lesser performing index beyond 15%
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Initial index levels: | 3,298.46 for S&P, 27,173.96 for Dow
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Pricing date: | Sept. 25
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Settlement date: | Sept. 30
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 4.12%
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Cusip: | 40057CQE4
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