Published on 1/10/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.54 million index-linked notes on Dow, Russell, S&P
By Sarah Lizee
Olympia, Wash., Jan. 10 – GS Finance Corp. priced $2.54 million of 0% index-linked notes due Jan. 8, 2025 tied to the Dow Jones industrial average, 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.
If the final level of each index is greater than its initial level, the payout will be par plus 1.67 times the lesser performing index return.
If any index falls by up to 80% of its initial level, the payout will be par plus 20%.
If any index falls by more than 20% but not by more than 35%, the payout will be par.
If any index falls by more than 35%, the payout will be par plus the return of the lesser performing index with full exposure to the decline.
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: | Dow Jones industrial average, S&P 500 index and Russell 2000 index
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Amount: | $2,542,000
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Maturity: | Jan. 8, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the final level of each index is greater than its initial level, par plus 1.67 times the lesser performing index return; if any index falls by up to 80% of its initial level, par plus 20%; if any index falls by more than 20% but not by more than 35%, par; if any index falls by more than 35%, par plus the return of the lesser performing index with full exposure to the decline
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Initial index levels: | 3,234.85 for S&P, 28,634.88 for Dow and 1,660.870 for Russell
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Pricing date: | Jan. 3
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Settlement date: | Jan. 8
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.92%
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Cusip: | 40056XZB5
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