Published on 3/16/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.26 million index-linked notes on S&P, Dow
By Wendy Van Sickle
Columbus, Ohio, March 16 – GS Finance Corp. priced $1.26 million of 0% index-linked notes due March 20, 2023 tied to 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.
If each index closes above 70% of its initial level, the payout will be par plus 20%.
Otherwise, investors will lose 1% for every 1% decline of the lesser performing index.
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, Dow Jones industrial average
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Amount: | $1,255,000
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Maturity: | March 20, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index closes above 70% of its initial level, par plus 20%; otherwise, investors will lose 1% for every 1% decline of the lesser performing index
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Initial index levels: | 23,553.22 for Dow, 2,741.38 for S&P
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Trigger levels: | 70% of initial levels
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Pricing date: | March 11
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Settlement date: | March 18
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.25%
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Cusip: | 40056YSZ8
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