Published on 7/6/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.1 million index-linked notes on Dow, S&P
By Sarah Lizee
Olympia, Wash., July 6 – GS Finance Corp. priced $2.1 million of 0% index-linked notes due June 30, 2025 tied to the Dow Jones industrial average 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 worse-performing index gains or finishes flat, the payout will be par plus 1.05 times the return of the lesser performing index.
If any index falls by up to 15%, the payout will be par plus the absolute value of the return of the lesser performing index.
Otherwise, investors will be fully exposed to the loss of the worse-performing index beyond 15%.
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 S&P 500
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Amount: | $2,096,000
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Maturity: | June 30, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worse-performing index gains or finishes flat, par plus 1.05 times return of lesser performing index; if any index falls by up to 15%, par plus the absolute value of the return of the lesser performing index; otherwise, investors will be fully exposed to the loss of the worse-performing index beyond 15%
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Initial levels: | 25,745.60 for Dow, 3,083.76 for S&P
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Buffer levels: | 85% of initial levels
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Pricing date: | June 25
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Settlement date: | June 30
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 4.19%
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Cusip: | 40057C6Y2
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