Published on 10/22/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $546,000 index-linked notes on Dow Jones U.S. Select, Nasdaq-100
By Taylor Fox
New York, Oct. 22 – GS Finance Corp. priced $546,000 of 0% index-linked notes due March 21, 2024 tied to the lesser performing of the Dow Jones U.S. Select Dividend index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its initial level, the payout will be par plus 1.32 times the return of the lesser performing index.
If either index falls by up to 20%, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the lesser performing index beyond the 20% buffer.
The notes are guaranteed by Goldman Sachs Group, Inc.
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 U.S. Select Dividend, Nasdaq-100
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Amount: | $546,000
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Maturity: | March 21, 2024
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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 1.32 times the return of the lesser performing index; if either index falls by up to 20%, par; otherwise, 1% loss for every 1% decline of the lesser performing index beyond 20%
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Initial index levels: | 599.43 for Dow Jones U.S. Select, 10,936.98 for Nasdaq
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Barrier levels: | 80% of initial levels
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Pricing date: | Sept. 18
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Settlement date: | Sept. 23
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 1.65%
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Cusip: | 40057CUY5
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