Published on 11/22/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.96 million index-linked notes on Russell, S&P
By Taylor Fox
New York, Nov. 23 – GS Finance Corp. priced $2.96 million of 0% index-linked notes due Nov. 18, 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.
If each index finishes above its initial level, the payout will be par plus the return of the lesser performing index, subject to a maximum return of $1,400 per $1,000 of notes.
If either index falls by up to 15%, the payout will be par plus the absolute value of the lesser performing index.
Otherwise, investors will lose 1% for every 1% decline of the lesser performing index beyond the 15% buffer.
The notes are guaranteed by Goldman Sachs Group, Inc.
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: | $2,962,000
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Maturity: | Nov. 18, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes above its initial level, par plus return of lesser performing index, subject to maximum return of $1,400 per $1,000 of notes; if either index falls by up to 15%, par plus absolute value of return of lesser performing index; 1% loss for every 1% decline of lesser performing index beyond 15% buffer
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Initial index levels: | 1,211.82 for S&P, 1,759.313 for Russell
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Buffer level: | 85% of initial index levels
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Pricing date: | Nov. 13
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Settlement date: | Nov. 18
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 4.475%
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Cusip: | 40057EFW2
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