Published on 10/13/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $788,000 index-linked autocallables on S&P, Russell, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Oct. 13 – GS Finance Corp. priced $788,000 of 0% index-linked notes due Oct. 2, 2025 tied to the least performing of the Nasdaq-100 index, the S&P 500 index and the Russell 2000 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 an 8% annualized premium if all three indexes close at or above their initial levels on any annual call observation dates.
The payout at maturity will be par plus 40% if each index finishes at or above 95% of its initial level. If any index falls but not below 65% of its initial level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the least performing index declines.
Goldman Sachs & Co. LLC is the agent.
Issuer: | GS Finance Corp.
|
Guarantor: | Goldman Sachs Group, Inc.
|
Issue: | Index-linked autocallable notes
|
Underlying indexes: | S&P 500, Russell 2000, Nasdaq-100
|
Amount: | $788,000
|
Maturity: | Oct. 2, 2025
|
Coupon: | 0%
|
Price: | Par of $1,000
|
Call: | At par plus 8% annualized premium if all indexes close at or above their initial levels on any annual call observation dates
|
Payout at maturity: | Par plus 40% if each index finishes at or above 95% of its initial level; par if any index falls but not below 65% of its initial level; otherwise, 1% loss for every 1% decline of least performing index
|
Initial levels: | 1,474.908 for Russell, 3,298.46 for S&P, 11,151.13 for Nasdaq
|
Pricing date: | Sept. 25
|
Settlement date: | Sept. 30
|
Agent: | Goldman Sachs & Co. LLC
|
Fees: | 4.475%
|
Cusip: | 40057CSV4
|
|
© 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.