Published on 12/8/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.44 million index-linked notes on S&P indexes
By Wendy Van Sickle
Columbus, Ohio, Dec. 8 – GS Finance Corp. priced $2.44 million of 0% index-linked notes due Nov. 28, 2025 tied to the least performing of the S&P 500 index and the S&P 500 Value 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% index if each index finishes at or above its initial level. If either index falls but not below 70% of its initial level, the payout will be par plus the absolute value of the lesser-performing index return. Otherwise, investors will lose 1% for every 1% that the least performing index declines.
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 S&P 500 Value index
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Amount: | $2,436,000
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Maturity: | Nov. 28, 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; if either index falls but not below 70% of its initial level, par absolute value of lesser-performing index return; otherwise, 1% loss for every 1% decline of least performing index from initial level
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Initial levels: | 3,635.41 for S&P 500 and 1,248.27 for S&P 500 Value
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Pricing date: | Nov. 24
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Settlement date: | Nov. 30
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 4.08%
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Cusip: | 40057ELY1
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