Published on 10/21/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $408,000 index-linked notes on Russell, S&P
By Kiku Steinfeld
Chicago, Oct. 21 – GS Finance Corp. priced $408,000 of 0% index-linked notes due Nov. 19, 2021 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 up to 21%.
If either index falls by up to 10%, the payout will be par plus the absolute value of the lesser-performing index return.
Otherwise, investors will lose 1% for every 1% decline of the lesser performing index beyond 10%.
The notes are guaranteed by Goldman Sachs Group, Inc.
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, S&P 500
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Amount: | $408,000
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Maturity: | Nov. 19, 2021
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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 return of lesser performing index up to 21%; if either index falls by up to 10%, par plus absolute value of return of lesser performing index; 1% loss for every 1% decline of lesser performing index beyond 10%
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Initial index levels: | 3,483.81 for S&P, 1,633.808 for Russell
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Pricing date: | Oct. 16
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Settlement date: | Oct. 21
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.53%
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Cusip: | 40057EFH5
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