Published on 12/2/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $3.42 million index-linked autocallables on Dow, Nasdaq, Russell
By Wendy Van Sickle
Columbus, Ohio, Dec. 2 – GS Finance Corp. priced $3.42 million of 0% autocallable index-linked notes due Nov. 27, 2024 tied to the least performing of the Russell 2000 index, the Nasdaq-100 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 10.8% annualized premium if both indexes close at or above their initial levels on any annual call date.
The payout at maturity will be par plus 43.2% if each index finishes at or above its initial level. If any index falls but not by more than 30%, 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 index, Nasdaq-100 index, Dow Jones industrial average
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| Amount: | $3.42 million
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| Maturity: | Nov. 27, 2024
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| Coupon: | 0%
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| Price: | Par of $1,000
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| Call: | At par plus 10.8% annualized premium if each index closes at or above its initial levels on an annual call date
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| Payout at maturity: | Par plus 43.2% if each index finishes at or above its initial level; par if any index falls but not by more than 30%; otherwise, 1% loss for every 1% decline of least performing index
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| Initial levels: | 11,906.644 for Nasdaq, 29.263.48 for Dow, 1,785.341 for Russell
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| Pricing date: | Nov. 20
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| Settlement date: | Nov. 25
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.3%
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| Cusip: | 40057EMR5
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