Published on 10/14/2020 in the Prospect News Structured Products Daily.
New Issue: Goldman sells $1.77 million callable contingent coupon notes on Nasdaq, S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Oct. 14 – GS Finance Corp. priced $1.77 million of callable contingent coupon notes due April 6, 2026 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Nasdaq-100 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 semiannual coupon at annual rate of 6.8% if each underlier closes at or above its coupon barrier, 55% of its initial level, on the observation date for that period.
The notes will be callable semiannually at par plus any coupon due on any semiannual call valuation date.
The payout at maturity will be par plus any final coupon due unless any underlier finishes below the 55% trigger buffer level, in which case investors will lose 1% for each 1% decline of the worst performing underlier from its initial level.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon notes
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| Underliers: | Russell 2000 index, S&P 500 index and Nasdaq-100 index
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| Amount: | $1,768,000
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| Maturity: | April 6, 2026
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| Coupon: | 6.8%, payable semiannually if each underlier closes at or above coupon barrier on observation date
|
| Price: | Par
|
| Call option: | At par plus any coupon due on any semiannual call valuation date
|
| Payout at maturity: | Par plus any coupon if all underlying indexes close above trigger buffer levels; otherwise 1% for each 1% decline of worse performing underlier from initial level
|
| Initial levels: | 1,531.202 for Russell, 3,380.8 for S&P, 11,583.2 for Nasdaq
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| Coupon barriers: | 55% of initial levels
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| Trigger buffer levels: | 55% of initial levels
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| Pricing date: | Oct. 1
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| Settlement date: | Oct. 6
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.35%
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| Cusip: | 40057CXC0
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