Published on 5/1/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $114,000 autocallable index-linked notes on S&P, Russell
By Sarah Lizee
Olympia, Wash., May 1 – GS Finance Corp. priced $114,000 of 0% autocallable index-linked notes due May 5, 2025 tied to the S&P 500 index and the Russell 2000 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 an 8% annualized premium if each index closes at or above its initial level on any annual call observation date.
If the notes are not called and each index closes at or above its initial level, the payout at maturity will be $1,400 per $1,000 note.
If either index falls by up to 30%, the payout will be par.
If either index falls by more than 30%, investors will be exposed to any losses of the least-performing index.
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: | S&P 500, Russell 2000
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| Amount: | $114,000
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| Maturity: | May 5, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the notes are not called and each index closes at or above its initial level, $1,400 per $1,000 note; if either index falls by up to 30%, par; if either index falls by more than 30%, investors will be exposed to any losses of the least-performing index
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| Call: | At par plus 8% annualized if each index closes at or above its initial level on any annual call observation date
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| Initial index levels: | 1,281.878 for Russell, 2,878.48 for S&P
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| Barrier levels: | 70% of initial levels
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| Pricing date: | April 27
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| Settlement date: | April 30
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 4.475%
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| Cusip: | 40057E2B2
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