Published on 4/8/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.65 million index-linked notes due 2025 on S&P
Chicago, April 8 – GS Finance Corp. priced $1.65 million of 0% index-linked notes due March 27, 2025 linked 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 closes at or above its initial level, the payout at maturity will be the greater of par plus the index return and the threshold settlement amount of $1,471 per $1,000 principal amount of notes.
If the index falls by up to 25%, the payout will be par plus the absolute value of the index return.
Otherwise, investors will be fully exposed to the decline.
Goldman Sachs & Co. LLC is the underwriter.
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 index: | S&P 500 index
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Amount: | $1,650,000
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Maturity: | March 27, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index closes at or above initial level, greater of par plus index return and threshold settlement amount of $1,471 per $1,000 principal amount of notes; if index falls by up to 25%, par plus absolute value of the return of the index; otherwise, full exposure to loss
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Initial index level: | 2,447.33
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Trigger buffer level: | 75% of initial level
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Pricing date: | March 24
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Settlement date: | March 27
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 4.6%
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Cusip: | 40056YWD2
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