Published on 9/18/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $209,000 autocallable index-linked notes on Russell, S&P
By Sarah Lizee
Olympia, Wash., Sept. 18 – GS Finance Corp. priced $209,000 of 0% autocallable index-linked notes due Sept. 22, 2025 tied to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its 100% of its initial level on any quarterly call date after one year, the notes will be called at par plus 5% per year.
If the notes are not called and each index finishes at or above its initial level, the payout will be par plus 25%.
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.
|
Issue: | Autocallable index-linked notes
|
Underlying indexes: | Russell 2000, S&P 500
|
Amount: | $209,000
|
Maturity: | Sept. 22, 2025
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If the notes are not called and each index finishes at or above its initial level, par plus 25%; if either index falls by up to 15%, par; otherwise, 1% loss for every 1% decline of the lesser performing index beyond 15%
|
Call: | If each index closes at or above its 100% of its initial level on any quarterly call date after one year, notes will be called at par plus 5% per year
|
Initial index levels: | 1,538.154 for Russell, 3,401.2 for S&P
|
Barrier levels: | 85% of initial levels
|
Pricing date: | Sept. 15
|
Settlement date: | Sept. 18
|
Agent: | Goldman Sachs & Co. LLC
|
Fees: | 4.23%
|
Cusip: | 40057CTE1
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.