Published on 10/16/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $100,000 digital notes linked to Nasdaq-100
By Marisa Wong
Los Angeles, Oct. 16 – GS Finance Corp. priced $100,000 of 0% digital notes due Oct. 20, 2021 linked to the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the final level of the index is equal to or greater than 80% of the initial level, the payout at maturity will be par plus 5.55%.
Otherwise, investors will lose 1.25% for every 1% decline beyond 20%.
Goldman Sachs & Co. LLC is the underwriter with JPMorgan as placement agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Digital notes
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Underlying index: | Nasdaq-100 index
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Amount: | $100,000
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Maturity: | Oct. 20, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the final level of the index is equal to or greater than 80% of the initial level, par plus 5.55%; otherwise, 1.25% loss for every 1% decline beyond 20%
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Initial index level: | 11,255.69
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Final level: | Average of index closing levels on five trading days ending Oct. 15, 2021
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Pricing date: | Oct. 2
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Settlement date: | Oct. 7
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Underwriter: | Goldman Sachs & Co. LLC
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Placement agent: | JPMorgan Securities LLC
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Fees: | 1.1%, including selling concession of up to 1%
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Cusip: | 40057ECH8
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