Published on 4/3/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.86 million index-linked notes on S&P, Dow
By Wendy Van Sickle
Columbus, Ohio, April 3 – GS Finance Corp. priced $1.86 million of 0% index-linked notes due March 31, 2025 tied to the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If each index closes at or above its initial level, the payout will be par plus 1.1 times the return of the lesser performing index.
If the lesser performing index falls by up to 20%, the payout will be par plus the absolute value of the return of the lesser performing index.
Otherwise, investors will lose 1% for every 1% decline of the lesser performing index beyond 20%.
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, Dow Jones industrial average
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Amount: | $1,863,000
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Maturity: | March 31, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index closes at or above its initial level, par plus 1.1 times return of the lesser performing index; if lesser performing index falls by up to 20%, par plus absolute value of return of lesser performing index; otherwise, investors will lose 1% for every 1% decline of the lesser performing index beyond 20%
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Initial index levels: | 22,552.17 for Dow, 2,630.07 for S&P
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Pricing date: | March 26
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Settlement date: | March 31
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 4.475%
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Cusip: | 40056YWP5
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