Published on 11/3/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $430,000 index-linked notes on S&P, Russell, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Nov. 3 – GS Finance Corp. priced $430,000 of 0% index-linked notes due Oct. 30, 2025 tied to the least performing of the Nasdaq-100 index, 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.
The payout at maturity will be par plus the greater of 40% and the least performing index return if each index finishes at or above its initial level. If any index falls but not below 65% of its initial level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the least performing index declines from its initial level.
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, Russell 2000, Nasdaq-100
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Amount: | $430,000
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Maturity: | Oct. 30, 2025
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | Par plus the greater of 40% and least performing index return if each index finishes at or above its initial level; par if either any falls but not below 65% of its initial level; otherwise, 1% loss for every 1% decline of least performing index
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Initial levels: | 1,590.482 for Russell, 3,390.68 for S&P, 11,598.95 for Nasdaq
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Pricing date: | Oct. 27
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Settlement date: | Oct. 30
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 4.475%
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Cusip: | 40057EBW6
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