Published on 8/4/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $627,000 index-linked autocallables on Dow, Russell, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Aug. 4 – GS Finance Corp. priced $627,000 of 0% index-linked notes due July 31, 2024 tied to the least performing of the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, 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 a 10.75% annualized premium if each index closes at or above its call level, 95% of its initial level, on any annual call date.
The payout at maturity will be par plus 43% if each index finishes at or above 95% of its initial level. If any index finishes below its initial level but no index finishes below its 70% trigger level, the payout will be par. Otherwise, investors will be fully exposed to the decline of the least performing index.
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: | Index-linked autocallable notes
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index, Dow Jones industrial average
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| Amount: | $627,000
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| Maturity: | July 31, 2024
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| Coupon: | 0%
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| Price: | Par of $1,000
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| Call: | At par plus 10.75% annualized premium if each index closes at or above call level on any annual call date
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| Payout at maturity: | Par plus 43% if each index finishes at or above 95% of its initial level; if any index finishes below 95% of its initial level but no index finishes below 70% trigger level, par; otherwise, full exposure to decline of least performing index
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| Initial levels: | 1,467.555 for Russell, 10,483.13 for Nasdaq, 26,469.89 for Dow
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| Call levels: | 95% of initial levels
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| Pricing date: | July 24
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| Settlement date: | July 29
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 2.3%
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| Cusip: | 40057CFH9
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