Published on 9/24/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $33.52 million autocallable notes on Nasdaq-100
By Marisa Wong
Los Angeles, Sept. 24 – GS Finance Corp. priced $33.52 million of 0% autocallable notes due Sept. 30, 2021 linked to the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the index closes at or above 90% of its initial level on Sept. 30, 2021, the notes will be automatically redeemed at par plus a premium of 12.25%.
If the notes are not called and the index finishes above its initial level, the payout at maturity will be par plus 4 times the index return. Otherwise, investors will be fully exposed to any index decline.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable notes
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| Underlying index: | Nasdaq-100 index
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| Amount: | $33,519,000
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| Maturity: | Sept. 30, 2021
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | Par plus 4 times any index gain; otherwise, full exposure to losses
|
| Call: | At par plus 12.25% if the index closes at or above 90% of its initial level on Sept. 30, 2021
|
| Initial level: | 11,022.550, set lower than the index closing level on the pricing date
|
| Pricing date: | Sept. 22
|
| Settlement date: | Sept. 29
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| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 1.65%
|
| Cusip: | 40057CW72
|
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