Published on 4/14/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $100,000 index-linked notes on Russell, S&P
By Sarah Lizee
Olympia, Wash., April 14 – GS Finance Corp. priced $100,000 of 0% index-linked notes due April 5, 2022 tied to the Russell 2000 index and 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 each index finishes at or above its initial level, the payout will be par plus the return of the lowest performing index, capped at $1,400 for each $1,000 of notes.
If worst-performing index falls by up to 15%, the payout will be par plus the absolute value of the return of the lowest performing index.
Investors will be exposed to the loss of the worst performing index beyond the 15% buffer.
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 and S&P 500
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Amount: | $100,000
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Maturity: | April 5, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes at or above its initial level, par plus the return of the lowest performing index, capped at $1,400 for each $1,000 of notes; if worst-performing index falls by up to 15%, par plus the absolute value of the return of the lowest performing index; investors will be exposed to the loss of the worst performing index beyond the 15% buffer
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Initial levels: | 1,153.103 for Russell, 2,584.59 for S&P
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Buffer levels: | 85% of initial levels
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Pricing date: | March 31
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Settlement date: | April 3
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 1.175%
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Cusip: | 40056YM50
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