Published on 10/27/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.2 million index-linked notes on S&P, Dow, Russell
By Taylor Fox
New York, Oct. 27 – GS Finance Corp. priced $2.2 million of 0% index-linked notes due Oct. 5, 2026 tied to the S&P 500 index, the Russell 2000 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 1.4801 times the least performing index return.
If any index falls by up to 20%, the payout will be par.
If any index falls by more than 20%, investors will be exposed to the decline of the least performing index beyond the 20% buffer.
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, Russell 2000 index, Nasdaq-100
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Amount: | $2.2 million
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Maturity: | Oct. 5, 2026
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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 1.4801 times the least performing index return; if any index falls by up to 20%, par; if any index falls by more than 20%, exposure to the decline of the least performing index beyond 20% buffer
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Initial index levels: | 3,351.6 for S&P, 27,584.06 for Dow and 1,510.342 for Russell
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Buffer levels: | 80% of initial levels
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Pricing date: | Sept. 28
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Settlement date: | Oct. 5
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.625%
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Cusip: | 40057CZH7
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