Published on 8/3/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $190,000 index-linked notes on Stoxx, S&P
By Sarah Lizee
Olympia, Wash., Aug. 3 – GS Finance Corp. priced $190,000 of 0% index-linked notes due Aug. 3, 2023 tied to the S&P 500 index and the Euro Stoxx 50 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 at maturity will be par plus 1.3 times the least performing index return.
If either index finishes below the initial underlier level by up to 20%, the payout will be par.
Otherwise, investors will be exposed to the decline of the least performing index beyond 20%.
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: | S&P 500 index and Euro Stoxx 50 index
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Amount: | $190,000
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Maturity: | Aug. 3, 2023
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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 1.3 times the least performing index return; if either index finishes below the initial underlier level by up to buffer, par; otherwise, investors will be exposed to the decline of the least performing index beyond buffer
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Initial index levels: | 3,258.44 for S&P, 3,300.16 for Stoxx
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Buffer levels: | 80% of initial levels
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Pricing date: | July 29
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Settlement date: | Aug. 3
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.5%
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Cusip: | 40057CHK0
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