Published on 9/6/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $797,000 autocallable contingent coupon notes on indexes
By Kiku Steinfeld
Chicago, Sept. 8 – GS Finance Corp. priced $797,000 of autocallable contingent coupon index-linked notes due June 7, 2021 linked to the S&P 500 index, the Dow Jones industrial average 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 pay a contingent quarterly coupon of 5.2% per annum if each index closes at or above its 60% coupon trigger level on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any observation date.
The payout at maturity will be par unless any index closes below 60% of its initial level, in which case investors will be fully exposed to the decline of the least performing index from its initial level.
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 contingent coupon index-linked notes
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Underlying indexes: | S&P 500, Dow Jones industrial average, Russell 2000
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Amount: | $797,000
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Maturity: | June 7, 2021
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Contingent coupon: | 5.2% annualized, payable quarterly if each index closes at or above 60% coupon trigger level on the observation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless any index closes below 60% of its initial level, in which case investors will be fully exposed to the decline of the least performing index from its initial level
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Call: | Automatically at par if each index closes at or above initial level on any observation date
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Initial index levels: | 3,508.01 for S&P, 28,653.87 for Dow and 1,578.343 for Russell
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Coupon trigger levels: | 60% of initial levels
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Agent: | Goldman Sachs & Co. LLC
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Pricing date: | Aug. 28
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Settlement date: | Sept. 2
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Fees: | 0.5%
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Cusip: | 40057CSD4
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