Published on 12/8/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $35,000 index-linked notes on Nasdaq, Dow
By Wendy Van Sickle
Columbus, Ohio, Dec. 8 – GS Finance Corp. priced $35,000 of 0% index-linked notes due Nov. 30, 2022 tied to the lesser performing of the Nasdaq-100 index and the Dow Jones industrial average, 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 17.5%.
If the lesser-performing index falls by up to 30%, the payout will be par plus the absolute value of the return of the lesser-performing index.
Otherwise, investors will lose 1% for every 1% decline of the lesser-performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
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: | Nasdaq-100 index, Dow Jones industrial average
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Amount: | $35,000
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Maturity: | Nov. 30, 2022
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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 17.5%; if the lesser-performing index falls by up to 30%, par plus absolute value of return of lesser-performing index; otherwise, 1% loss for every 1% decline of the lesser-performing index
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Initial index levels: | 12,079.81 for Nasdaq and 30,046.24 for Dow
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Pricing date: | Nov. 24
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Settlement date: | Nov. 30
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 2.975%
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Cusip: | 40057EKR7
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