Published on 7/10/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.28 million autocallable index-linked notes on Dow, Nasdaq
By Sarah Lizee
Olympia, Wash., July 10 – GS Finance Corp. priced $1.28 million of 0% autocallable index-linked notes due July 8, 2025 tied to the Nasdaq-100 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 a 12.5% annualized premium if each index closes at or above its initial level on any annual call observation date.
If the notes are not called and each index closes at or above its initial level, the payout at maturity will be $1,625 per $1,000 note.
If either index falls by up to 30%, the payout will be par.
If either index falls by more than 30%, investors will be exposed to any losses of the least-performing index.
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 index-linked notes
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| Underlying indexes: | Nasdaq-100 index, Dow Jones industrial average
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| Amount: | $1,279,000
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| Maturity: | July 8, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the notes are not called and each index closes at or above its initial level, $1,625 per $1,000 note; if either index falls by up to 30%, par; if either index falls by more than 30%, investors will be exposed to any losses of the least-performing index
|
| Call: | At par plus 12.5% annualized if each index closes at or above its initial level on any annual call observation date
|
| Initial index levels: | 25,812.88 for Dow, 10,156.85 for Nasdaq
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| Barrier levels: | 70% of initial levels
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| Pricing date: | June 30
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| Settlement date: | July 6
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 1.15%
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| Cusip: | 40057C6K2
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