Published on 12/1/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.88 million index-linked notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, Dec. 1 – GS Finance Corp. priced $1.88 million of 0% index-linked notes due Nov. 25, 2025 tied to the least performing of the S&P 500 index, the Nasdaq-100 Technology Sector 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 1.225 times the least performing index’s return if each index finishes at or above its initial level. If any index declines but each index finishes at or above its trigger level, 60% of its initial level, the payout will be par. If any index finishes below its trigger level, 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 Technology Sector index, Dow Jones industrial average
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Amount: | $1,881,000
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Maturity: | Nov. 25, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.225 times the least performing index’s return if each index finishes at or above its initial level; par if any index declines but each index finishes at or above its trigger level; otherwise, 1% loss for every 1% decline of the least performing index
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Initial levels: | 3,557.54 for S&P, 6,927.576 for Nasdaq-100 Technology, 29,263.48 for Dow
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Trigger levels: | 60% of initial levels
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Pricing date: | Nov. 20
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Settlement date: | Nov. 25
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 4.725%
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Cusip: | 40057END5
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