Published on 4/9/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.42 million index-linked notes on Russell, S&P, Dow
By Wendy Van Sickle
Columbus, Ohio, April 9 – GS Finance Corp. priced $2.42 million of 0% index-linked notes due April 3, 2026 tied to the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If each index finishes at or above its initial level, the payout will be par plus the greater of 1.68 times the return of the least performing index and 25%.
If worst-performing index falls by up to 25%, the payout will be par.
Investors will be exposed to any loss of the worst-performing index beyond 25%.
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, Russell 2000 and S&P 500
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Amount: | $2,416,000
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Maturity: | April 3, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes at or above its initial level, par plus greater of 1.68 times return of least performing index and 25%; par if worst-performing index falls by up to 25%; exposure to losses of worst performing index beyond 25%
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Initial levels: | 1,153.103 for Russell, 2,584.59 for S&P, 21,917.16 for Dow
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Pricing date: | March 31
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Settlement date: | April 3
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.875%
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Cusip: | 40056YRM8
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