Published on 12/30/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $568,000 equity-linked autocalls tied to four stocks
By Wendy Van Sickle
| Columbus, Ohio, Dec. 30 – | GS Finance Corp. | priced $568,000 of 0% autocallable equity-linked notes due Dec. 23, 2024 linked to the least performing of the stocks of | lululemon athletica inc., | Pinterest, Inc., | American Express Co. | and | Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
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| The notes are guaranteed by | Goldman Sachs Group, Inc.
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| The notes will be called at par plus 40% a year if each stock closes above its call level on any biannual call observation date; the call level is 90% of the initial level.
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| If all three stocks finish at or above 90% of their initial value, the payout at maturity will be par plus 160%.
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| If the worst performing stock finishes below 90% of its initial value but not lower than 50% of its initial value, the payout at maturity will be par.
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| If any stock falls, investors will be exposed to the decline of the least performing stock.
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| Goldman Sachs & Co. is the underwriter.
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| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable equity-linked notes
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| Underlying stocks: | lululemon athletica inc., Pinterest, Inc., American Express | Co. and Facebook, Inc.
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| Amount: | $568,000
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| Maturity: | Dec. 23, 2024
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| Coupon: | 0%
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| Price: | Par
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| Call: | At par plus 40% a year if each stock closes above 90% call level on any biannual call observation date starting after one year
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| Payout at maturity: | If worst performer finishes above 90% of initial value, par plus 160%; if worst performer finishes below 90% but above 50% of initial value, par; otherwise, exposure to losses of worst performer
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| Initial prices: | $378.05 for lululemon, $70.36 for Pinterest, $117.51 for American Express, $276.40 for Facebook
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| Pricing date: | Dec. 18
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| Settlement date: | Dec. 23
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 1.8%
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| Cusip: | 40057EUE5
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