Published on 10/31/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $804,000 autocallable index-linked notes on Dow, S&P
By Taylor Fox
New York, Nov. 2 – GS Finance Corp. priced $804,000 of 0% autocallable index-linked notes due Oct. 7, 2022 tied to the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called on Sept. 30, 2021 if both indexes close above their initial value on that date. If called, investors will receive $1,075 per $1,000 principal amount of notes.
If the notes are not called and each index finishes at or above its initial level, the payout will be par plus 1.5 times the lesser performing index return.
If either index falls by up to 15%, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the lesser performing index beyond 15%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable index-linked notes
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| Underlying indexes: | Dow Jones Industrial Average, S&P 500 index
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| Amount: | $804,000
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| Maturity: | Oct. 7, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the notes are not called and each index finishes at or above its initial level, par plus 1.5 times less performing index return; if either index falls by up to 15%, par; otherwise, 1% loss for every 1% decline of the lesser performing index beyond 15%
|
| Call: | $1,075 per $1,000 face amount of notes if both indexes close above their initial levels on Sept. 30, 2021
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| Initial index levels: | 27,781.7 for Dow, 3,363 for S&P
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| Barrier levels: | 85% of initial levels
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| Pricing date: | Sept. 30
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| Settlement date: | Oct. 5
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 1.225%
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| Cusip: | 40057CSL6
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