Published on 4/7/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.02 million index-linked notes on indexes
By Sarah Lizee
Olympia, Wash., April 7 – GS Finance Corp. priced $1.02 million of 0% index-linked notes due April 1, 2025 linked to the lesser performing of the Russell 2000 index, the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the return of each index is greater than or equal to its initial level, the payout will be par plus 2.5 times the return of the least performing index.
If the return of any index is negative but by no more than 30%, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the least performing index from its initial level.
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: | Russell 2000 index, Dow Jones industrial average and Nasdaq-100 index
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Amount: | $1,018,000
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Maturity: | April 1, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index return is greater than or equal to initial level, 2.5 times return of least performing index; if the return of any index is negative but by no more than 30%, par; otherwise, investors will be fully exposed to the decline of the least performing index from its initial level
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Initial index levels: | 1,131.988 for Russell, 21,636.78 for Dow and 7,588.373 for Nasdaq
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Trigger levels: | 70% of initial levels
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Pricing date: | March 27
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Settlement date: | April 1
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 4.475%
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Cusip: | 40056YWX8
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