Published on 10/22/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $985,000 index-linked trigger notes on S&P 500
By Kiku Steinfeld
Chicago, Oct. 22 – GS Finance Corp. priced $985,000 of 0% index-linked trigger notes due Oct. 27, 2021 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the final level of the index is equal to or greater than 70% of the initial level, the payout at maturity will be par plus 5.7%.
Otherwise, the payout will be par plus the index return with full exposure to any losses.
Goldman Sachs & Co. LLC is the underwriter with JPMorgan acting as the placement agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Index-linked trigger notes
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Underlying index: | S&P 500
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Amount: | $985,000
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Maturity: | Oct. 27, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final level of the index is equal to or greater than trigger level, par plus 5.7%; otherwise, par plus index return with full exposure to any losses
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Initial index level: | 3,477.13
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Trigger level: | 70% of initial level
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Final level: | Average of index closing levels on five trading days ending Oct. 22, 2021
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Pricing date: | Oct. 9
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Settlement date: | Oct. 15
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Underwriter: | Goldman Sachs & Co. LLC
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Placement agent: | JPMorgan Securities LLC
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Fees: | 1.1%, including selling concession of up to 1%
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Cusip: | 40057EEX1
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