Published on 6/8/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.85 million digital notes on S&P 500
By Kiku Steinfeld
Chicago, June 8 – GS Finance Corp. priced $1.85 million of 0% digital notes due June 1, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the index return is at least 90% of its initial level, the payout at maturity will be $1,132.50 per $1,000 principal amount.
Otherwise, investors will lose 1% for each 1% loss of the index beyond 10%.
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: | S&P 500 index
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Amount: | $1,854,000
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Maturity: | June 1, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is at least 90% of its initial level, $1,132.50 per $1,000 principal amount; otherwise 1% per 1% loss of index beyond 10%
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Initial index level: | 2,991.77
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Buffer level: | 90% of initial level
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level: | Average of closing levels on five trading days ending March 26, 2021
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Pricing date: | May 26
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Settlement date: | May 29
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Underwriter: | Goldman, Sachs & Co. LLC with JPMorgan as placement agent
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Fees: | 2.995%
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Cusip: | 40057E6B8
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