Published on 10/13/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $788,000 index-linked autocallables on S&P, Russell, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Oct. 13 – GS Finance Corp. priced $788,000 of 0% index-linked notes due Oct. 2, 2025 tied 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 be called at par plus an 8% annualized premium if all three indexes close at or above their initial levels on any annual call observation dates.
The payout at maturity will be par plus 40% if each index finishes at or above 95% of its initial level. If any index falls but not below 65% 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: | Index-linked autocallable notes
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| Underlying indexes: | S&P 500, Russell 2000, Nasdaq-100
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| Amount: | $788,000
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| Maturity: | Oct. 2, 2025
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| Coupon: | 0%
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| Price: | Par of $1,000
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| Call: | At par plus 8% annualized premium if all indexes close at or above their initial levels on any annual call observation dates
|
| Payout at maturity: | Par plus 40% if each index finishes at or above 95% of its initial level; par if any index falls but not below 65% of its initial level; otherwise, 1% loss for every 1% decline of least performing index
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| Initial levels: | 1,474.908 for Russell, 3,298.46 for S&P, 11,151.13 for Nasdaq
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| Pricing date: | Sept. 25
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| Settlement date: | Sept. 30
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 4.475%
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| Cusip: | 40057CSV4
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