Published on 12/8/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $13.63 million step-down trigger autocallables on Russell, Stoxx, S&P
By Wendy Van Sickle
Columbus, Ohio, Dec. 8 – GS Finance Corp. priced $13.63 million of 0% step-down trigger autocallable notes due Dec. 6, 2024 linked to the lesser performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 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 automatically called at par of $10 plus a call premium of 8.27% per year if each index closes at or above its initial level on any quarterly observation date after one year.
If the notes are not called and the final level of the worse performing index is greater than or equal to its downside threshold, 75% of its initial level, investors will receive par plus a premium of 33.08%. Otherwise, investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.
Goldman Sachs & Co. and UBS Financial Services Inc. are the agents.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Step-down trigger autocallable notes
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| Underlying indexes: | S&P 500, Russell 2000, Euro Stoxx 50
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| Amount: | $13,625,000
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| Maturity: | Dec. 6, 2024
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If final level of the worse performing index is greater than or equal to its downside threshold, par plus a premium of 33.08%; otherwise, 1% loss for each 1% decline of the lesser-performing index from its initial level
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| Call: | Automatically at par plus a call premium of 8.27% per year if each index closes at or above its initial level on any quarterly observation date after one year
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| Initial levels: | 3,669.12 for S&P, 1,892.449 for Russell and 3,539.27 for Stoxx
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| Downside thresholds: | 2,774.34 for S&P. 1,419.337 for Russell, 2,654.435 for Stoxx, 75% of initial levels
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| Pricing date: | Dec. 4
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| Settlement date: | Dec. 9
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| Agents: | Goldman Sachs & Co. and UBS Financial Services Inc.
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| Fees: | 2.25%
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| Cusip: | 36259Q666
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