Published on 3/30/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.12 million underlier-linked notes on indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, March 30 – GS Finance Corp. priced $1.12 million of 0% underlier-linked notes due March 25, 2025 linked to the Technology Select Sector SPDR fund, the S&P 500 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the return of each underlier is zero or positive, the payout at maturity will be par plus 2.3 times the return of the least performer.
If the return of each underlier is negative but greater than or equal to negative 20%, the payout will be par.
If any underlier falls by more than 20%, investors will be exposed to the decline of the least performer beyond 20%.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Underlier-linked notes
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| Underlying assets: | Technology Select Sector SPDR fund, S&P 500 index, Nasdaq-100 index and Dow Jones industrial average
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| Amount: | $1.12 million
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| Maturity: | March 25, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the return of each underlier is zero or positive, par plus 2.3 times the return of the least performer; if the return of each underlier is negative but greater than or equal to negative 20%, par; if any underlier falls by more than 20%, exposure to the decline of the least performer beyond 20%
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| Initial levels: | $71.42 for ETF, 2,304.92 for S&P, 6,994.291 for Nasdaq, 19,173.98 for Dow
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| Pricing date: | March 20
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| Settlement date: | March 25
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 1.35%
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| Cusip: | 40056YUR3
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