Published on 3/10/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $72,000 9.1% autocallable fixed-coupon notes on S&P, Stoxx, Russell
By Wendy Van Sickle
Columbus, Ohio, March 10 –GS Finance Corp. priced $72,000 of autocallable fixed-coupon notes due Sept. 7, 2021 linked to the Euro Stoxx 50 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 interest rate will be 9.1% per year and will be payable quarterly.
The notes will be automatically called at par if each index closes at or above its initial level on any quarterly review date starting Aug. 28, 2020.
If the notes are not called, the payout at maturity will be par unless any index closes below its barrier level, 70% of its initial level, during the life of the notes and the least-performing index finishes below its initial level, in which case the payout will be par minus 1% for every 1% that the least-performing index declines from its initial level.
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 fixed-coupon notes
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| Underlying indexes: | Euro Stoxx 50 index, S&P 500 index and Russell 2000 index
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| Amount: | $72,000
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| Maturity: | Sept. 7, 2021
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| Coupon: | 9.1%, payable quarterly
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| Price: | Par
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| Call: | At par if each index closes at or above initial level on any quarterly review date starting Aug. 28, 2020
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| Payout at maturity: | Par unless any index closes below its 70% barrier level, during life of notes and least-performing index finishes below initial level, in which case par minus 1% for every 1% that least-performing index declines from initial level
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| Initial levels: | 3,329.49 for Stoxx, 2,954.22 for S&P and 1,476.431 for Russell
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| Pricing date: | Feb. 28
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| Settlement date: | March 4
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.4%
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| Cusip: | 40056YDY7
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