Published on 11/19/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $121,000 index-linked notes on S&P, Russell
By Taylor Fox
New York, Nov. 19 – GS Finance Corp. priced $121,000 of 0% index-linked notes due Nov. 4, 2025 tied to the least performing of 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 30% if each index finishes at or above its initial level. If either index falls but not below 60% 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 index and the Russell 2000 index
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Amount: | $121,000
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Maturity: | Nov. 4, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 30% if each index finishes at or above its initial level; par if either index falls but not below 60% of its initial level; otherwise, 1% loss for every 1% decline of least performing index from initial level
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Initial levels: | 13,269.96 for S&P and 1,538.479 for Russell
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Threshold levels: | 60% of initial levels
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Pricing date: | Oct. 30
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Settlement date: | Nov. 4
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.89%
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Cusip: | 40057CZQ7
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