Published on 8/20/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $220,000 autocallables index-linked on Dow, S&P
By Wendy Van Sickle
Columbus, Ohio, Aug. 20 – GS Finance Corp. priced $220,000 of 0% autocallable index-linked notes due Aug. 18, 2022 tied to the lesser performing of the S&P 500 index and the Dow Jones industrial average, 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 5.5% if both indexes close at or above their initial level on Aug. 16, 2021.
The payout at maturity will be par plus 3 times the lesser-performing index return if each index finishes at or above its initial level. If either index finishes below its initial level but neither index finishes below its 85% buffer level, the payout will be par. Otherwise, investors will be exposed to the decline of the lesser performing index beyond 15%.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable index-linked notes
|
| Underlying indexes: | S&P 500 index, Dow Jones industrial average
|
| Amount: | $220,000
|
| Maturity: | Aug. 18, 2022
|
| Coupon: | 0%
|
| Price: | Par of $1,000
|
| Call: | At par plus 5.5% if both indexes close at or above their initial levels on Aug. 16, 2021
|
| Payout at maturity: | Par plus 3 times the lesser-performing index return if each index finishes at or above its initial level; if either index finishes below its initial level but neither index finishes below 85% buffer level, par; otherwise, exposure to decline of lesser performing index beyond 15%
|
| Initial levels: | 3,372.85 for S&P, 27,931.02 for Dow
|
| Pricing date: | Aug. 14
|
| Settlement date: | Aug. 19
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.4%
|
| Cusip: | 40057CN72
|
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