Published on 9/2/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.53 million callable contingent coupon notes on S&P, Russell, Nasdaq
By Kiku Steinfeld
Chicago, Sept. 2 – GS Finance Corp. priced $1.53 million of callable contingent coupon index-linked notes due Aug. 24, 2028 linked to the least performing of the Nasdaq-100 index, 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 pay a contingent quarterly coupon at an annualized rate of 8.8% if each index closes at or above its 70% coupon trigger level on the determination date for that period.
The notes may be called at par plus any contingent coupon due at the issuer’s option on any coupon payment date.
If each index finishes above 70% of its initial level, the payout will be par plus the final coupon.
Otherwise, investors will be fully exposed to the decline of the least-performing index.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon index-linked notes
|
| Underlying indexes: | S&P 500, Russell 2000, Nasdaq-100
|
| Amount: | $1,153,000
|
| Maturity: | Aug. 28, 2023
|
| Contingent coupon: | 8.8% per year, payable quarterly if each index closes at or above coupon trigger level on quarterly determination date
|
| Price: | Par
|
| Payout at maturity: | If each index finishes above 70% of its initial level, par plus coupon; otherwise, full exposure to decline of the least performing index
|
| Call: | At par plus any contingent coupon at issuer’s option on any coupon payment date
|
| Initial index levels: | 3,397.16 for S&P, 1,552.476 for Russell and 11,555.160 for Nasdaq
|
| Coupon trigger: | 70% of initial levels
|
| Pricing date: | Aug. 21
|
| Settlement date: | Aug. 26
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.81%
|
| Cusip: | 40057CPF2
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
