Published on 8/13/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $409,000 index-linked notes on Dow, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Aug. 13 – GS Finance Corp. priced $409,000 of 0% index-linked notes due Aug. 4, 2022 tied to the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above 70% of its initial level, the payout will be par plus 14.8%.
Otherwise, investors will lose 1% for every 1% decline of the lesser performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
| 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: | Dow Jones industrial average, Nasdaq-100 index
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| Amount: | $409,000
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| Maturity: | Aug. 4, 2022
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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 70% of its initial level, par plus 14.8%; if the lesser performing index falls beyond 30%, full exposure to its loss
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| Initial index levels: | 26,428.32 for Dow, 10,905.88 for Nasdaq
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| Pricing date: | July 31
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| Settlement date: | Aug. 5
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | Up to 1.2%
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| Cusip: | 40057CDN8
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