Published on 11/13/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.33 million index-linked autocallables on S&P, Dow
By Wendy Van Sickle
Columbus, Ohio, Nov. 13 – GS Finance Corp. priced $1.33 million of 0% autocallable index-linked notes due Nov. 7, 2022 tied to the least performing of 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 an 8% premium if both indexes close at or above their initial levels on Nov. 1, 2021.
The payout at maturity will be par plus 1.5 times the lesser performing index return if each index finishes at or above its initial level. If either index falls but not below 85% of its initial level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the least performing index declines beyond 15%.
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: | S&P 500, Dow Jones industrial average
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| Amount: | $1,329,000
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| Maturity: | Nov. 7, 2022
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| Coupon: | 0%
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| Price: | Par of $1,000
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| Call: | At par plus 8% premium if both indexes close at or above their initial levels on Nov. 1, 2021
|
| Payout at maturity: | Par plus 1.5 times the lesser performing index return if each index finishes at or above its initial level; par if either index falls but neither index finishes below 85% of its initial level; otherwise, 1% loss for every 1% decline of least performing index beyond 15%
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| Initial levels: | 3,269.96 for S&P, 26,501.6 for Dow
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| Pricing date: | Oct. 30
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| Settlement date: | Nov. 4
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | Up to 1.225%
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| Cusip: | 40057CZ38
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