Published on 7/6/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $500,000 index-linked notes on Russell, S&P
By Sarah Lizee
Olympia, Wash., July 6 – GS Finance Corp. priced $500,000 of 0% index-linked notes due June 30, 2025 tied to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes above its initial level, the payout will be par plus the return of the lesser performing index.
If either index either index falls by up to 19%, the payout will be par.
Otherwise, investors will be exposed to losses of the lesser performing index beyond 19%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
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, S&P 500
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Amount: | $500,000
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Maturity: | June 30, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes above its initial level, par plus the return of the lesser performing index; if either index either index falls by up to 19%, par; investors will be exposed to losses of the lesser performing index beyond 19%
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Initial index levels: | 1,413.315 for Russell, 3,083.76 for S&P
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Buffer levels: | 81% of initial levels
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Pricing date: | June 25
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Settlement date: | June 30
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 4.45%
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Cusip: | 40057CBP5
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