Published on 6/8/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $161,000 index-linked notes on Russell, S&P
By Sarah Lizee
Olympia, Wash., June 8 – GS Finance Corp. priced $161,000 of 0% index-linked notes due June 3, 2025 tied to the Russell 2000 index and 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 worse performing index gains or finishes flat, the payout will be $1,300 per $1,000 of notes.
If any index falls by up to 40%, the payout will be par plus the absolute value of the return of the lesser performing index.
Otherwise, investors will be exposed to the loss of the worse performing index.
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: | Russell 2000 and S&P 500
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Amount: | $161,000
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Maturity: | June 3, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worse performing index gains or finishes flat, $1,300 per $1,000 of notes; if any index falls by up to 40%, par plus the absolute value of the return of the lesser performing index; otherwise, investors will be exposed to the loss of the worse performing index
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Initial levels: | 1,394.035 for Russell, 3,044.31 for S&P
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Barrier levels: | 60% of initial levels
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Pricing date: | May 29
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Settlement date: | June 3
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.87%
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Cusip: | 40057E7D3
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