Published on 8/13/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $587,000 index-linked notes on Dow, Nasdaq
By Sarah Lizee
Olympia, Wash., Aug. 13 – GS Finance Corp. priced $587,000 of 0% index-linked notes due Aug. 4, 2022 tied to the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its initial level, the payout will be par plus 24%.
If either index falls by up to 30%, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the lesser performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
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, Nasdaq-100 index
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Amount: | $587,000
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Maturity: | Aug. 4, 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 24%; if either index falls by up to 30%, par; otherwise, investors will be fully exposed to the decline of the lesser performing index
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Initial index levels: | 26,428.32 for Dow, 10,905.88 for Nasdaq
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Pricing date: | July 31
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Settlement date: | Aug. 5
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | Up to 1.2%
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Cusip: | 40057CDM0
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