Published on 4/7/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.25 million fixed-coupon index-linked notes on Dow, Nasdaq
Chicago, April 7 – GS Finance Corp. priced $2.25 million of 10% fixed-coupon index-linked notes due March 24, 2021 tied to the lesser performing of 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.
Interest is payable quarterly.
The payout at maturity will be par unless either index falls by more than 50%, in which case investors will be fully exposed to the losses beyond the trigger buffer 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: | Fixed-coupon index-linked notes
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Underlying indexes: | Dow Jones industrial average and Nasdaq-100
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Amount: | $2,250,000
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Maturity: | March 24, 2021
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Coupon: | 10%, payable quarterly
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Price: | Par
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Payout at maturity: | Par unless either index falls by more than 50%, in which case full exposure to losses beyond trigger buffer level
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Initial levels: | 20,087.19 for Dow and 7,288.523 for Nasdaq
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Trigger buffer levels: | 50% of initial levels
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Pricing date: | March 19
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Settlement date: | March 24
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Agent: | Goldman, Sachs & Co. LLC
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Fees: | 1.1%
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Cusip: | 40056YVT8
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