Published on 3/18/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $1.4 million index-linked notes on indexes
By Sarah Lizee
Olympia, Wash., March 18 – GS Finance Corp. priced $1.4 million of 0% index-linked notes due March 14, 2025 tied to 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.
If each index finishes at or above 85% of its initial level, the payout will be the greater of $1,450 per $1,000 of notes and par plus 1.25 times the return of the least performing index.
If any index closes below 85% of its initial level but at or above 70% of its initial level, the payout will be par.
If any index closes below 70% of its initial level, the payout will be par plus the return of the least performing index with full exposure to the decline.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| 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 and Dow Jones industrial average
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| Amount: | $1,399,000
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| Maturity: | March 14, 2025
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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 85% of its initial level, greater of $1,450 per $1,000 of notes and par plus 1.25 times the return of the least performing index; if any index closes below 85% of its initial level but at or above 70% of its initial level, par; if any index closes below 70% of its initial level, par plus the return of the least performing index with full exposure to the decline
|
| Initial index levels: | 1,264.296 for Russell, 23,553.22 for Dow, 2,741.38 for S&P
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| Threshold level: | 85% of initial levels
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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 16
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 1%
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| Cusip: | 40056YTP9
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