Published on 10/16/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $163,000 index-linked notes on Dow, S&P
By Kiku Steinfeld
Chicago, Oct. 16 – GS Finance Corp. priced $163,000 of 0% index-linked notes due Oct. 5, 2023 tied to the S&P 500 index and the Dow Jones industrial average, 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 the least performing index’s return.
If either index finishes below its initial level by up to 10%, the payout will be par.
Otherwise, investors will be exposed to the decline of the least performing index beyond 10%.
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 Dow Jones industrial average
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Amount: | $163,000
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Maturity: | Oct. 5, 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 the least performing index’s return; if either index finishes below its initial level by up to 10%, par; otherwise, investors will be exposed to the decline of the least performing index beyond 10%
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Initial index levels: | 27,781.70 for Dow, 3,363.00 for S&P
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Buffer levels: | 90% of initial levels
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Pricing date: | Sept. 30
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Settlement date: | Oct. 5
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 1.75%
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Cusip: | 40057CS36
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