Published on 3/30/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $972,000 index-linked notes on Nasdaq, Dow
By Wendy Van Sickle
Columbus, Ohio, March 30 – GS Finance Corp. priced $972,000 of 0% index-linked notes due March 25, 2025 tied to the Nasdaq-100 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 at or above its initial level, the payout will be par plus 4 times the return of the lesser performing index up to $1,900 per $1,000 note.
If either index falls by up to 50%, the payout will be par.
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: | Nasdaq-100, Dow Jones industrial average
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Amount: | $972,000
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Maturity: | March 25, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index closes at or above its initial level, par plus 4 times the return of the lesser performing index up to $1,900 per $1,000 note; if either index falls by up to 50%, par; otherwise, investors will lose 1% for every 1% decline of the lesser performing index
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Initial index levels: | 19,173.98 for Dow, 6,994.291 for Nasdaq
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Trigger levels: | 50% of initial levels
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Pricing date: | March 20
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Settlement date: | March 25
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 4.45%
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Cusip: | 40056YQ64
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