Published on 8/4/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $2.25 million digital notes linked to S&P 500
By Marisa Wong
Los Angeles, Aug. 4 – GS Finance Corp. priced $2,252,000 of 0% digital index-linked notes due Sept. 1, 2021 tied 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 return is greater than or equal to negative 15%, the payout will be par plus 6.77%.
If the index return is less than negative 15%, investors will lose 1.1765% for every 1% index decline 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: | Digital index-linked notes
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Underlying index: | S&P 500 index
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Amount: | $2,252,000
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Maturity: | Sept. 1, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains, finishes flat or falls by up to 15%, par plus 6.77%; otherwise, 1.1765% loss for every 1% index decline beyond 15%
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Initial index level: | 3,218.44
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Pricing date: | July 28
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Settlement date: | Aug. 4
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.92%
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Cusip: | 40057CH61
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