Published on 6/29/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $500,000 autocallable index-linked notes on Russell, S&P
By Sarah Lizee
Olympia, Wash., June 29 – GS Finance Corp. priced $500,000 of 0% autocallable index-linked notes due June 24, 2025 tied to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called on the call observation date, July 19, 2021, at par plus 18% if the closing level of each index is greater than or equal to 110% of its initial level.
If the notes are not called and each index finishes above its initial level, the payout will be par plus 1.5 times the return of the lesser performing index.
If either index either index falls by up to 20%, the payout will be par.
Otherwise, investors will be exposed to any losses of the lesser performing index beyond 20%.
The notes are guaranteed by Goldman Sachs Group, Inc.
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
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| Amount: | $500,000
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| Maturity: | June 24, 2025
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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 above its initial level, par plus 1.5 times the return of the lesser performing index; if either index either index falls by up to 20%, par; otherwise, investors will be exposed to any losses of the lesser performing index beyond 20%
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| Call: | Automatically called on the call observation date, July 19, 2021, at par plus 18% if the closing level of each index is greater than or equal to 110% of its initial level
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| Initial index levels: | 1,418.634 for Russell, 3,097.74 for S&P
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| Buffer levels: | 80% of initial levels
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| Pricing date: | June 19
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| Settlement date: | June 24
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.6%
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| Cusip: | 40057CBW0
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