Published on 1/7/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $4.28 million autocallables linked to Nasdaq, Dow, Russell
By Kiku Steinfeld
Chicago, Jan. 7 – GS Finance Corp. priced $4.28 million of 0% autocallable index-linked notes due Jan. 7, 2026 tied to the Nasdaq-100 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 be called at par plus an annual 13.9% call premium if each index closes at or above 102% of its index level on any of four annual call observation dates.
If the notes are not called and each index finishes above its initial level, the payout at maturity will be par plus the lesser-performing index’s return.
If any index falls by up to 30%, the payout at maturity will be par.
If any index falls by more than 30%, investors will be exposed to the losses of the least-performing index.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable index-linked notes
|
| Underlying indexes: | Nasdaq-100, Dow Jones industrial average, Russell 2000
|
| Amount: | $4,284,000
|
| Maturity: | Jan. 7, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes above initial level, par plus lesser-performing index’s return; if any index falls by up to 30%, par; if any index falls by more than 30%, full exposure to losses of least-performing index
|
| Call: | At par plus annual 13.9% premium if each index closes at or above 102% of its initial level on Dec. 30, 2021, Dec. 30, 2022, Jan. 2, 2024 or Dec. 30, 2024
|
| Initial index levels: | 30,409.56 for Dow, 12,845.36 for Nasdaq and 1,979.992 for Russell
|
| Trigger buffer levels: | 70% of initial levels
|
| Pricing date: | Dec. 30
|
| Settlement date: | Jan. 5
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.88%
|
| Cusip: | 40057EYW1
|
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