Published on 12/11/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $54,000 index-linked notes on S&P, Russell
By Cadu Vishniac
Detroit, Dec. 11 – GS Finance Corp. priced $54,000 of 0% index-linked notes due Dec. 9, 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 if each index finishes at or above its initial level. If either index falls but not below 82% of its initial level, the payout will be par plus the absolute value of the lesser-performing index return. Otherwise, investors will lose 1% for every 1% that the lesser-performing index declines beyond 18%.
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: | $54,000
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Maturity: | Dec. 9, 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 if each index finishes at or above its initial level; par plus absolute value of lesser-performing index return if either index falls but not below 82% of its initial level; otherwise, 1% loss for every 1% decline of lesser-performing index beyond 18%
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Initial levels: | 3,699.12 for S&P and 1,892.449 for Russell
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Buffer levels: | 82% of initial levels
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Pricing date: | Dec. 4
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Settlement date: | Dec. 9
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.6%
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Cusip: | 40057ENE3
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