Published on 12/26/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.43 million index-linked notes on Dow, Nasdaq, S&P
By Taylor Fox
New York, Dec. 30 – GS Finance Corp. priced $1.43 million of 0% index-linked notes due Dec. 4, 2025 tied to the least performing of the S&P 500 index, Nasdaq-100 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.
The payout at maturity will be par plus the lesser performing index return if each index finishes at or above its initial level. If the index return is less than its initial level but greater than or equal to negative 40%, the payout will be par plus the absolute value of the lesser performing index. Otherwise, investors will lose 1% for every 1% that the least performing index declines from its initial level.
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, Nasdaq-100 index, Dow Jones industrial average
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Amount: | $1,427,000
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Maturity: | Dec. 4, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus return of laggard index if each index finishes at or above its initial level; if the index return is less than its initial level but greater than or equal to negative 40%, the payout will be par plus the absolute value of the lesser performing index; otherwise, 1% loss for every 1% decline of least performing index from initial level
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Initial levels: | 3,621.63 for S&P, 12,268.32 for Nasdaq, 29,638.64 for Dow
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Trigger buffer levels: | 60% of initial levels
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Pricing date: | Nov. 30
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Settlement date: | Dec. 3
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 1.1%
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Cusip: | 40057EJV0
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