Published on 12/27/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $770,000 autocallable underlier-linked notes on index, stock, ETF
By Taylor Fox
New York, Dec. 30 – GS Finance Corp. priced $770,000 of 0% autocallable underlier-linked notes due Dec. 21, 2023 linked to the Nasdaq-100 index, the common stock of Apple Inc. and the iShares MSCI ACWI ETF, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically called at par plus a 18% annualized call premium if the lesser-performing asset closes at or above its initial level on any annual call date.
If the lesser-performing asset finishes at or above its initial level, the payout at maturity will be par plus 54%. If the lesser-performing asset falls by up to 90%, the payout will be par. Otherwise, investors will be exposed to the lesser-performing asset’s decline beyond the 10% buffer.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable underlier-linked notes
|
| Underlying assets: | Nasdaq-100 index, Apple Inc. and iShares MSCI ACWI ETF
|
| Amount: | $770,000
|
| Maturity: | Dec. 21, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | Automatically at par plus an 18% annualized call premium if lesser-performing asset closes at or above initial level on any annual call observation date
|
| Payout at maturity: | If the lesser-performing asset finishes at or above initial level, par plus 54%; if the final lesser-performing asset falls by up to 90%, the payout will be par; otherwise, investors will be exposed to the lesser-performing asset’s decline beyond the buffer
|
| Initial levels: | 12,738.18 for Nasdaq, $89.78 for iShares and $126.655 for Apple
|
| Buffer levels: | 90% of initial levels
|
| Pricing date: | Dec. 18
|
| Settlement date: | Dec. 23
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 0.425%
|
| Cusip: | 40057EW37
|
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