Published on 10/23/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $500,000 buffered notes linked to Nasdaq-100
By Kiku Steinfeld
Chicago, Oct. 23 – GS Finance Corp. priced $500,000 of 0% buffered index-linked notes due Oct. 19, 2022 tied to the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the index finishes at or above its initial level, the payout at maturity will be par plus the index return, capped at par plus 23%.
If the index falls by up to 15%, the payout will be par plus the absolute value of the index return. Otherwise, investors will lose 1.1765% for every 1% index decline beyond 15%.
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: | Buffered index-linked notes
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Underlying index: | Nasdaq-100 index
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Amount: | $500,000
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Maturity: | Oct. 19, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains or finishes flat, par plus index return, capped at par plus 23%; if index falls by up to 15%, par plus absolute value of index return; otherwise, 1.1765% loss for every 1% index decline beyond 15%
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Initial index level: | 11,898.57
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Buffer level: | 85% of initial level
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Pricing date: | Oct. 15
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Settlement date: | Oct. 22
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 1.65%
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Cusip: | 40057CXE6
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