Published on 10/15/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $949,000 index-linked notes on S&P, Dow, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Oct. 15 – GS Finance Corp. priced $949,000 of 0% index-linked notes due Oct. 9, 2025 tied to the S&P 500 index, the Nasdaq-100 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 finishes at or above 165% of its initial level, the payout at maturity will be par plus 65%. If the least-performing index finishes between 100% and 165% of its initial level, the payout will be par plus the greater of the least-performing index’s return and 32%.
If the least-performing index falls by up to 30%, the payout will be par plus the absolute value of that index’s return.
If any index falls by more than 30%, investors will be fully exposed to the decline of the least-performing index.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Index-linked notes
|
| Underlying indexes: | S&P 500, Dow Jones industrial average, Nasdaq-100
|
| Amount: | $949,000
|
| Maturity: | Oct. 9, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above 165% of its initial level, par plus 65%; if least-performing index finishes between 100% of initial level and 165% of initial level, par plus greater of least-performing index’s return and 32%; if least-performing index falls by up to 30%, par plus absolute value of its return; if any index falls by more than 30%, full exposure to the decline of the least-performing index
|
| Initial index levels: | 3,408.63 for S&P, 28,148.64 for Dow and 11,509.06 for Nasdaq
|
| Pricing date: | Oct. 5
|
| Settlement date: | Oct. 8
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 4.475%
|
| Cusip: | 40057EEN3
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
