Published on 9/22/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.52 million index-linked notes on S&P, Russell, Nasdaq
By Kiku Steinfeld
Chicago, Sept. 22 – GS Finance Corp. priced $1.52 million of 0% index-linked notes due Oct. 14, 2021 tied to the S&P 500 index, the Nasdaq-100 index 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 80% of its initial level, the payout at maturity will be $1,080 for each $1,000 principal amount of notes.
If any index falls by more than 20%, investors will lose 1.25% for every 1% that the least-performing index declines beyond 20%.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Index-linked notes
|
| Underlying indexes: | S&P 500, Russell 2000, Nasdaq-100
|
| Amount: | $1.52 million
|
| Maturity: | Oct. 14, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above 80% of its initial level, $1,080 for each $1,000 principal amount of notes; if any index falls by more than 20%, investors will lose 1.25% for every 1% that the lesser-performing index declines beyond 20%
|
| Initial index levels: | 3,339.19 for S&P, 1,507.751 for Russell and 11,154.120 for Nasdaq
|
| Buffer levels: | 80% of initial levels
|
| Pricing date: | Sept. 10
|
| Settlement date: | Sept. 15
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 0.6%
|
| Cusip: | 40057CUP4
|
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