Published on 12/9/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.33 million index-linked autocallables on S&P, Nasdaq, Russell
By Wendy Van Sickle
Columbus, Ohio, Dec. 9 – GS Finance Corp. priced $1.33 million of 0% autocallable index-linked notes due Dec. 2, 2025 tied to the least performing of the Russell 2000 index, the Nasdaq-100 index and the S&P 500 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 annualized premium of 8.35% if all three indexes close at or above their initial levels on any annual call date.
The payout at maturity will be par plus 41.75% if all three indexes finish at or above 95% of their initial levels. The payout will be par if the least performing index falls by more than 5% but not by more than 30%. 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: | Autocallable index-linked notes
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index, S&P 500 index
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| Amount: | $1,325,000
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| Maturity: | Dec. 2, 2025
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| Coupon: | 0%
|
| Price: | Par of $1,000
|
| Call: | At par plus 8.35% if each index closes at or above its initial levels on an annual call date
|
| Payout at maturity: | Par plus 41.75% if all indexes finish above 95% of initial level; par if any index falls by more than 5% but not by more than 30%; otherwise 1% loss for every 1% decline of least performing index
|
| Initial levels: | 12,079.81 for Nasdaq, 3,635.41 for S&P, 1,853.532 for Russell
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| Pricing date: | Nov. 24
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| Settlement date: | Nov. 30
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 4.36%
|
| Cusip: | 40057ELE5
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