Published on 11/18/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $45,000 autocallable index-linked notes on Russell, S&P, Nasdaq
By Taylor Fox
New York, Nov. 18 – GS Finance Corp. priced $45,000 of 0% autocallable index-linked notes due Nov. 6, 2023 tied to the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its initial level on any annual call date, the notes will be called at par plus an annual 11% premium.
If the notes are not called and each index finishes at or above 95% of its initial level, the payout will be par plus 33%.
If the worst performer finishes between 60% and 95% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the worst performer.
The notes are guaranteed by Goldman Sachs Group, Inc.
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, Nasdaq-100 index
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| Amount: | $45,000
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| Maturity: | Nov. 6, 2023
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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 finishes at or above 95% of its initial level, par plus 33%; if worst performer finishes between 60% and 95% of initial level, par; otherwise, 1% loss for every 1% decline of the worst performer
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| Call: | If each index closes at or above initial level on any annual call date, notes will be called at par plus 11% annual premium
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| Initial index levels: | 1,538.479 for Russell, 3,269.96 for S&P, 11,052.95 Nasdaq
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| Trigger buffer levels: | 60% of initial levels
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| Pricing date: | Oct. 30
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| Settlement date: | Nov. 4
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.92%
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| Cusip: | 40057EDH7
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