Published on 5/6/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $538,000 index-linked notes on Russell, S&P
By Sarah Lizee
Olympia, Wash., May 6 – GS Finance Corp. priced $538,000 0% index-linked notes due May 5, 2025 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 worse-performing index gains or finishes flat, the payout will be $1,330 per $1,000 note.
If any index falls by up to 40%, the payout will be par plus the absolute value of the return of the worse-performing index.
Investors will be exposed to the loss of the worse-performing index if it falls by more than 40%.
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: | $538,000
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| Maturity: | May 5, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worse-performing index gains or finishes flat, $1,330 per $1,000 note; if any index falls by up to 40%, par plus the absolute value of the return of the worse-performing index; investors will be exposed to the loss of the worse-performing index if it falls by more than 40%
|
| Initial levels: | 1,310.664 for Russell, 2,912.43 for S&P
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| Barrier levels: | 60% of initial levels
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| Pricing date: | April 30
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| Settlement date: | May 5
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.9%
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| Cusip: | 40057E5P8
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