Published on 12/2/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.2 million index-linked autocallables on S&P, Nasdaq, Russell
By Wendy Van Sickle
Columbus, Ohio, Dec. 2 – GS Finance Corp. priced $2.2 million of 0% autocallable index-linked notes due May 27, 2022 tied to the least performing of the Russell 2000 index, the Nasdaq-100 index and 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.
The notes will pay a contingent quarterly coupon at an annualized rate of 8.05% if each index closes above 60% of its initial level on the related observation date.
The notes will be called at par if all three indexes close at or above their initial levels on any quarterly call date after six months.
The payout at maturity will be par unless any index finishes below its initial level and any index closes below its 60% trigger level on any day during the life of the notes, in which case 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.
|
| Issue: | Autocallable index-linked notes
|
| Underlying indexes: | Russell 2000 index, Nasdaq-100 index, S&P 500 index
|
| Amount: | $2.2 million
|
| Maturity: | May 27, 2022
|
| Coupon: | 8.05%, payable quarterly if each index closes above 60% of initial level on related observation date
|
| Price: | Par of $1,000
|
| Call: | At par if each index closes at or above its initial levels on an annual call date
|
| Payout at maturity: | Par unless any index finishes below initial level and any index closes below 60% trigger level during life of notes, in which case 1% loss for every 1% decline of least performing index
|
| Initial levels: | 11,906.644 for Nasdaq, 3,557.54 for S&P, 1,785.341 for Russell
|
| Pricing date: | Nov. 20
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| Settlement date: | Nov. 25
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.55%
|
| Cusip: | 40057ENZ6
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