Published on 1/7/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $459,000 index-linked autocallables on Nasdaq, Russell
By Wendy Van Sickle
Columbus, Ohio, Jan. 7 – GS Finance Corp. priced $459,000 of 0% autocallable index-linked notes due Jan. 3, 2024 tied to the least performing of the Nasdaq-100 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 annualized premium of 6% if both indexes close at or above their initial levels on any semiannual call date after one year.
The payout at maturity will be par plus 125% of the return of the least performing index if both indexes finish above their initial levels. The payout will be par if the least performing index falls by up to 15%. Otherwise, investors will lose 1% for every 1% that the least performing index declines beyond 15%.
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
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| Amount: | $459,000
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| Maturity: | Jan. 3, 2024
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| Coupon: | 0%
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| Price: | Par of $1,000
|
| Call: | At par plus an annualized premium of 6% if both indexes close at or above their initial levels on any semiannual call date after one year
|
| Payout at maturity: | Par plus 125% of return of least performing index if both indexes finish above initial level; par if any index falls by up to 15%; otherwise 1% loss for every 1% decline of least performing index beyond 15%
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| Initial levels: | 12,653.14 for Nasdaq, 2,007.104 for Russell
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| Pricing date: | Dec. 23
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| Settlement date: | Dec. 29
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 3.25%
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| Cusip: | 40057ES99
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