Published on 9/4/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $774,000 autocallable index-linked notes on Dow, S&P
By Sarah Lizee
Olympia, Wash., Sept. 4 – GS Finance Corp. priced $774,000 of 0% autocallable index-linked notes due Sept. 8, 2022 tied to the Dow Jones industrial average 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 $1,060 for each $1,000 principal amount of notes if the indexes close at or above their initial levels on Aug. 31, 2021.
If the notes are not called and each index closes at or above its initial level, the payout at maturity will be par plus 2 times the lesser performing index’s return.
If the lesser performing index falls by up to 15%, the payout will be par.
If either index falls by more than 15%, investors will be exposed to any losses of the worst-performing index beyond 15%.
Goldman Sachs & Co. 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: | Dow Jones industrial average and S&P 500
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| Amount: | $774,000
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| Maturity: | Sept. 8, 2022
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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 closes at or above its initial level, par plus 2 times the lesser performing index’s return; if the lesser performing index falls by up to 15%, par; if either index falls by more than 15%, exposure to any losses of the worst-performing index beyond 15%
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| Call: | At $1,060 for each $1,000 principal amount of notes if both indexes close at or above initial levels on Aug. 31, 2021
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| Initial levels: | 28,430.05 for Dow, 3,500.31 for S&P
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| Buffer levels: | 85% of initial levels
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| Pricing date: | Aug. 31
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| Settlement date: | Sept. 3
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| Agent: | Goldman Sachs & Co.
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| Fees: | 1.225%
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| Cusip: | 40057CJC6
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