Published on 9/2/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $849,000 index-linked autocallables on S&P, Russell, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Sept. 2 – GS Finance Corp. priced $849,000 of 0% index-linked notes due Sept. 3, 2025 tied to the least performing of the Nasdaq-100 index, the S&P 500 index and the Russell 2000 index, 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 8.5% annualized premium if all three indexes close at or above their initial levels on any annual call date.
The payout at maturity will be par plus 42.5% if each index finishes at or above its initial level. If any index falls by more than 5% but not below 65% 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.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Index-linked autocallable notes
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| Underlying indexes: | Nasdaq-100, S&P 500, Russell 2000
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| Amount: | $849,000
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| Maturity: | Sept. 3, 2025
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| Coupon: | 0%
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| Price: | Par of $1,000
|
| Call: | At par plus 8.5% annualized premium if all three indexes close at or above their initial levels on an annual call date
|
| Payout at maturity: | Par plus 42.5% if each index finishes at or above 95% of its initial level; par if any index falls below 95% of initial level but not below 65% of its initial level; otherwise, 1% loss for every 1% decline of least performing index
|
| Initial levels: | 11,971.94 for Nasdaq, 3,478.73 for S&P, 1,560.193 for Russell
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| Pricing date: | Aug. 26
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| Settlement date: | Aug. 31
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| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 4.45%
|
| Cusip: | 40057CL90
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