Published on 10/11/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $40,000 equity-linked notes tied to four tech stocks
Chicago, Oct. 12 – GS Finance Corp. priced $40,000 of 0% digital equity-linked notes due Sept. 30, 2024 linked to the least performing of the common stocks of Amazon.com, Inc., Apple Inc., Microsoft Corp. and the class C capital stock of Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If all four stocks finish above their initial value, the payout at maturity will be par plus 2.55 times the least performing stock return.
If the worst performing stock finishes below its initial value but not lower than 80% of its initial value, the payout at maturity will be par plus the absolute value of the return of the lowest performing stock.
If any stock falls by more than 20%, investors will be exposed to the decline of the least performing stock beyond the 20% buffer.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Equity-linked notes
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| Underlying stocks: | Common stocks of Amazon.com, Inc., Apple Inc., Microsoft Corp. and the class C capital stock of Alphabet Inc.
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| Amount: | $40,000
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| Maturity: | Sept. 30, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performer finishes above initial value, par plus 2.55 times the return of worst performer; if worst performer declines but finishes above 80% of initial value, par plus absolute value of return of worst performer; otherwise exposure to losses of worst performer beyond 20% buffer
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| Initial prices: | $3,095.13 for Amazon, $112.28 for Apple, $1,444.96 for Alphabet and $207.82 for Microsoft
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| Buffer levels: | 80% of initial levels
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| Pricing date: | Sept. 25
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| Settlement date: | Sept. 30
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 3.8%
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| Cusip: | 40057CWP2
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