Published on 11/9/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $650,000 index-linked notes on S&P, Dow, Russell
By Wendy Van Sickle
Columbus, Ohio, Nov. 9 – GS Finance Corp. priced $650,000 of 0% index-linked notes due Nov. 2, 2023 tied to the least performing of the Russell 2000 index, 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.
The payout at maturity will be par plus 1.8 times the least performing index return if each index finishes at or above its initial level. If any index falls but not below 80% of its initial level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the least performing index declines.
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: | Russell 2000 index, S&P 500 index, Dow Jones industrial average
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Amount: | $650,000
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Maturity: | Nov. 2, 2023
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | Par plus 1.8 times least performing index return if each index finishes at or above its initial level; par if any index falls but not below 80% of its initial level; otherwise, 1% loss for every 1% decline of least performing index
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Initial levels: | 1,590.482 for Russell, 27,463.19 for Dow, 3,390.68 for S&P
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Pricing date: | Oct. 28
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Settlement date: | Nov. 2
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 1.25%
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Cusip: | 40057EKA4
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