Published on 11/10/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $10 million index-linked autocallables on S&P, Stoxx, Russell
By Wendy Van Sickle
Columbus, Ohio, Nov. 10 – GS Finance Corp. priced $10 million of 0% autocallable index-linked notes due Oct. 31, 2025 tied to the least performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be called at par plus a 16.1% annualized premium if all three indexes close at or above their initial levels on any semiannual call date after one year.
The payout at maturity will be par plus 80.5% if each index finishes at or above its initial level. If any index falls but not below 75% of its initial level, the payout will be par. 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: | Autocallable index-linked notes
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Underlying indexes: | Russell 2000, S&P 500, Euro Stoxx 50
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Amount: | $10 million
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Maturity: | Oct. 31, 2025
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Coupon: | 0%
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Price: | Par of $1,000
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Call: | At par plus 16.1% annualized premium if all three indexes close at or above their initial levels on any semiannual call date after a year
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Payout at maturity: | Par plus 80.5% if each index finishes at or above its initial level; par if any index falls but not below 75% of its initial level; otherwise, 1% loss for every 1% decline of least performing index
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Initial levels: | 1,542.22 for Russell, 3,279.54 for S&P, 2,962.8 for Stoxx
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Pricing date: | Oct. 29
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Settlement date: | Nov. 5
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 1.1%
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Cusip: | 40057EM20
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