Published on 4/8/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $4.25 million index-linked notes on Russell, S&P
Chicago, April 8 – GS Finance Corp. priced $4.25 million of 0% index-linked notes due March 28, 2024 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 1.35 times the return of the lesser performing index.
If the lesser-performing index falls by up to 25%, the payout will be par.
Investors will be exposed to any losses of the worst-performing index beyond 25%.
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: | $4,250,000
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Maturity: | March 28, 2024
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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 its initial level, par plus 1.35 times the return of the lesser performing index; if the lesser-performing index falls by up to 25%, par; investors will be exposed to any losses of the worst-performing index beyond 25%
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Initial levels: | 1,096.555 for Russell, 2,447.33 for S&P
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Buffer levels: | 75% of initial levels
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Pricing date: | March 24
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Settlement date: | March 27
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.65%
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Cusip: | 40056YWM2
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