Published on 5/13/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $500,000 index-linked notes on Dow, Russell
Chicago, May 13 – GS Finance Corp. priced $500,000 of 0% index-linked notes due May 3, 2029 tied to the Dow Jones industrial average and the Russell 2000 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 1.9 times the return of the lesser performing index.
Investors will receive par if the worst performer declines but finishes above 60% of its initial level.
Otherwise, investors will be exposed to any losses of the worst-performing index.
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: | Dow Jones industrial average and Russell 2000 index
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Amount: | $500,000
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Maturity: | May 3, 2029
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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 initial level, par plus 1.9 times the return of the lesser performing index; par is worst performer declines but not more than 40%; otherwise, full exposure to any loss of lesser-performing index
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Initial levels: | 24,633.86 for Dow, 1,360.763 for Russell
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Pricing date: | April 29
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Settlement date: | May 1
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 2.9%
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Cusip: | 40057E5U7
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