Published on 8/5/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $7.17 million index-linked autocallables on Russell, FTSE
By Wendy Van Sickle
Columbus, Ohio, Aug. 5 – GS Finance Corp. priced $7.17 million of 0% index-linked notes due Aug. 1, 2025 tied to the lesser performing of the Russell 2000 index and the FTSE 100 index, 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 11.5% a year if both indexes close at or above their initial level on any quarterly call date.
The payout at maturity will be par plus 57.5% if each index finishes at or above its initial level. If either index finishes below its initial level but neither index finishes below its 65% trigger level, the payout will be par. Otherwise, investors will be fully exposed to the decline of the lesser performing index.
Goldman Sachs & Co. LLC is the agent.
Issuer: | GS Finance Corp.
|
Guarantor: | Goldman Sachs Group, Inc.
|
Issue: | Index-linked autocallable notes
|
Underlying indexes: | Russell 2000 index, FTSE 100 index
|
Amount: | $7,165,000
|
Maturity: | Aug. 1, 2025
|
Coupon: | 0%
|
Price: | Par of $1,000
|
Call: | At par plus 11.5% a year if both indexes close at or above their initial levels on any quarterly call date
|
Payout at maturity: | Par plus 57.5% if each index finishes at or above its initial level; if either index finishes below its initial level but neither index finishes below 65% trigger level, par; otherwise, full exposure to decline of lesser performing index
|
Initial levels: | 1,500.63 for Russell, 6,131.46 for FTSE
|
Pricing date: | July 29
|
Settlement date: | July 31
|
Agent: | Goldman Sachs & Co. LLC
|
Fees: | 3.25%
|
Cusip: | 40057CHN4
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.