Published on 6/3/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.83 million index-linked autocallables on S&P, Dow, Russell
By Wendy Van Sickle
Columbus, Ohio, June 3 – GS Finance Corp. priced $1.83 million of 0% autocallable index-linked notes due June 1, 2026 tied to the least performing of the Russell 2000 index, the S&P 500 index and the Dow Jones industrial average, 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 12% a year if each index closes at or above 85% of its initial level on any annual call date.
The payout at maturity will be par plus 72% if each index finishes at or above 85% of its initial level. If any index finishes below 85% of its initial level but no index finishes below 75% of its initial level, the payout will be par. Otherwise, investors will be fully exposed to the decline of the least performing index.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable index-linked notes
|
| Underlying indexes: | S&P 500 index, Dow Jones industrial average, Russell 2000 index
|
| Amount: | $1,834,000
|
| Maturity: | June 1, 2026
|
| Coupon: | 0%
|
| Price: | Par of $1,000
|
| Call: | At par plus 12% a year if each index closes at or above 85% of initial level on any annual call date
|
| Payout at maturity: | Par plus 72% if each index finishes at or above 85% of its initial level; if least-performing index finishes below 85% of its initial level but above 75% of initial level, par; otherwise, full exposure to decline of least performing index
|
| Initial levels: | 2,955.45 for S&P, 24,465.16 for Dow, 1,355.531 for Russell
|
| Pricing date: | May 22
|
| Settlement date: | June 1
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.375%
|
| Cusip: | 40057EBE6
|
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