Published on 10/13/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $5.89 million index-linked notes on Russell Value, S&P Value
By Wendy Van Sickle
Columbus, Ohio, Oct. 13 – GS Finance Corp. priced $5.89 million of 0% index-linked notes due Oct. 10, 2025 tied to the Russell 2000 Value 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.
If each index finishes at or above its initial level, the payout at maturity will be par plus 30.5%.
If either index falls but neither falls by more than 15%, the payout will be par plus the absolute value of the return of the lesser performing index.
Otherwise, investors will lose 1% for every 1% decline of the lesser performing index beyond 15%.
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: | Russell 2000 Value, S&P 500 Value
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Amount: | $5,892,000
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Maturity: | Oct. 10, 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 30.5%; if either index falls but neither falls by more than 15%, par plus absolute value of the return of the lesser performing index; otherwise, 1% loss for every 1% decline of lesser performing index beyond 15%
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Initial index levels: | 1,596.276 for Russell Value, 1,140.72 for S&P Value
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Pricing date: | Oct. 7
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Settlement date: | Oct. 13
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 4.425%
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Cusip: | 40057CW23
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