Published on 4/3/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.58 million index-linked notes on Dow, S&P
By Sarah Lizee
Olympia, Wash., April 3 – GS Finance Corp. priced $1.58 million of 0% index-linked notes due March 29, 2024 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 at or above its initial level, the payout will be par plus 1.85 times the return of the lesser performing index.
If either index falls by up to 30%, 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: | S&P 500, Dow Jones industrial average
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Amount: | $1,575,000
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Maturity: | March 29, 2024
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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 1.85 times the return of the lesser performing index; if either index falls by up to 40%, par; otherwise, investors will lose 1% for every 1% decline of the lesser performing index
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Initial index levels: | 22,552.17 for Dow, 2,630.07 for S&P
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Trigger levels: | 70% of initial levels
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Pricing date: | March 26
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Settlement date: | March 31
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 1.5%
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Cusip: | 40056YWR1
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