Published on 5/4/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.79 million index-linked notes on Dow, Nasdaq, S&P
By Sarah Lizee
Olympia, Wash., May 4 – GS Finance Corp. priced $1.79 million of 0% index-linked notes due May 1, 2025 tied to the Dow Jones industrial average, the Nasdaq-100 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 1.55 times the return of the least performing index.
If any index falls by up to 40%, the payout will be par.
If any index falls by more than 40%, the payout will be par plus the return of the least 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, Nasdaq-100 and S&P 500
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Amount: | $1,794,000
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Maturity: | May 1, 2025
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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 1.55 times the return of the least performing index; if any index falls by up to 40%, par; if any index falls by more than 40%, par plus the return of the least performing index with full exposure to the decline
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Initial levels: | 24,133.78 for Dow, 8,837.657 for Nasdaq, 2,878.48 for S&P
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Barrier levels: | 60% of initial levels
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Pricing date: | April 27
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Settlement date: | April 30
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 4.475%
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Cusip: | 40057E5B9
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