Published on 12/11/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $3.21 million index-linked notes on S&P, Russell, Nasdaq
By Cady Vishniac
Detroit, Dec. 10 – GS Finance Corp. priced $3.21 million of 0% index-linked notes due Dec. 9, 2025 tied to the least performing of the Nasdaq-100 index, the S&P 500 index and the Russell 2000 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 115% of the least-performing index return if each index finishes at or above its initial level. If any index falls but not below 70% of its initial level, the payout will be par plus the absolute value of the least-performing index return. 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: | Nasdaq-100 index, S&P 500 index, Russell 2000 index
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Amount: | $3,211,000
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Maturity: | Dec. 9, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 115% of the least-performing index return if each index finishes at or above its initial level; if any index falls but not below 70% of its initial level, par plus the absolute value of the least-performing index return; otherwise, 1% loss for every 1% decline of least-performing index
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Initial levels: | 12,528.48 for Nasdaq, 1,892.449 for Russell, 3,699.12 for S&P
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Trigger buffer levels: | 70% of initial levels
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Pricing date: | Dec. 4
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Settlement date: | Dec. 9
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 5.19%
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Cusip: | 40057ETD9
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