Published on 1/7/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.41 million index-linked notes on Dow, S&P
By Kiku Steinfeld
Chicago, Jan. 7 – GS Finance Corp. priced $1.41 million of 0% index-linked notes due Jan. 5, 2024 tied to the least performing of 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 the return of the laggard index each index finishes at or above its initial level. Investors will receive par if the laggard index falls by up to 10%. Otherwise, investors will lose 1% for every 1% that the least performing index declines beyond 10%.
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 index, Dow Jones industrial average
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Amount: | $1,405,000
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Maturity: | Jan. 5, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus laggard index’s return if each index finishes at or above its initial level; par if laggard index falls by up to 10%; otherwise 1% loss for every 1% decline of the least performing index beyond 10%
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Initial levels: | 3,732.04 for S&P, 30,409.56 for Dow
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Buffer level: | 90% of initial levels
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Pricing date: | Dec. 30
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Settlement date: | Jan. 5
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Agent: | Goldman Sachs & Co. LLC
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Fees: | Up to 1.75%
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Cusip: | 40057EPS0
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