Published on 10/1/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $6.97 million index-linked autocallables on S&P, Dow, Russell
By Wendy Van Sickle
Columbus, Ohio, Oct. 1 – GS Finance Corp. priced $6.97 million of 0% autocallable index-linked notes due March 30, 2026 tied to the least performing of the Russell 2000 index, the S&P 500 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 12% annualized premium if all three indexes close at or above 95% of their initial levels on any semiannual call date after one year.
The payout at maturity will be par plus 66% if each index finishes at or above 95% of its initial level. If any index falls below 95% of its initial level but not below 75% of its initial level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the least performing index declines.
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 index-linked notes
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| Underlying indexes: | Russell 2000, S&P 500, Dow Jones industrial average
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| Amount: | $6,973,000
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| Maturity: | March 30, 2026
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| Coupon: | 0%
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| Price: | Par of $1,000
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| Call: | At par plus 12% annualized premium if all three indexes close at or above 95% of their initial levels on any semiannual call date after a year
|
| Payout at maturity: | Par plus 66% if each index finishes at or above 95% of its initial level; par if any index falls below 95% of its initial level but not below 75% of its initial level; otherwise, 1% loss for every 1% decline of least performing index
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| Initial levels: | 1,496.961 for Russell, 3,315.57 for S&P, 27,288.18 for Dow
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| Pricing date: | Sept. 22
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| Settlement date: | Sept. 29
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.35%
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| Cusip: | 40057CVJ7
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