Published on 4/8/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.32 million digital notes linked to S&P 500
Chicago, April 8 – GS Finance Corp. priced $2.32 million of 0% digital index-linked notes due March 28, 2022 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the index return is greater than or equal to negative 25%, the payout at maturity will be $1,126.5 for each $1,000 face amount of notes.
If the index return is below negative 25%, investors will lose 1.3333% for every 1% decline of the index beyond 25%.
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: | Digital index-linked notes
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Underlying index: | S&P 500
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Amount: | $2,320,000
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Maturity: | March 28, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains, finishes flat or falls by up to 25%, par plus 12.65%; otherwise, 1.3333% loss for every 1% decline beyond 25%
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Initial index level: | 2,447.33
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Threshold level: | 75% of initial level
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Pricing date: | March 24
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Settlement date: | March 31
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 1.45%
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Cusip: | 40056YVB7
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