Published on 12/10/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.55 million index-linked notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Dec. 10 – GS Finance Corp. priced $1.55 million of 0% index-linked notes due Nov. 28, 2025 tied to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The payout at maturity will be par plus the lesser performing index return, capped at par plus 55%, if each index finishes at or above its initial level. If either index falls but not below 85% of its initial level, the payout will be par plus the absolute value of the laggard index return. Otherwise, investors will lose 1% for every 1% that the least performing index declines beyond 15%.
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: | S&P 500 index and the Russell 2000 index
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Amount: | $1,551,000
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Maturity: | Nov. 28, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus lesser performing index return, capped at par plus 55%, if each index finishes at or above its initial level; par plus absolute value of laggard index return if either index falls but not below 85% of its initial level; otherwise, 1% loss for every 1% decline of least performing index beyond 15%
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Initial levels: | 3,635.41 for S&P and 1,853.532 for Russell
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Pricing date: | Nov. 24
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Settlement date: | Nov. 30
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 4.18%
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Cusip: | 40057EJ32
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