Published on 3/11/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $100,000 index-linked notes on Russell, S&P
By Sarah Lizee
Olympia, Wash., March 11 – GS Finance Corp. priced $100,000 of 0% index-linked notes due March 3, 2023 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 each index finishes at or above its initial level, the payout will be par plus 1.5 times the lesser performing index return, capped at par plus 22.5%.
If either index declines, investors will be exposed to the decline of the lesser performing index, subject to a minimum payout of 90% of par.
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: | $100,000
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| Maturity: | March 3, 2023
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If each index finishes at or above initial level, par plus 1.5 times lesser performing index return capped at par plus 22.5%; if either index declines, investors will be exposed to the decline of the lesser performing index, subject to a minimum payout of 90% of par
|
| Initial levels: | 1,476.431 for Russell, 2,954.22 for S&P
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| Trigger buffer levels: | 60% of initial levels
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| Pricing date: | Feb. 28
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| Settlement date: | March 4
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 1.175%
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| Cusip: | 40056YFG4
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