Published on 10/27/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $950,000 autocallable index-linked notes on Russell, S&P
By Taylor Fox
New York, Oct. 27 – GS Finance Corp. priced $950,000 of 0% autocallable index-linked notes due Oct. 2, 2025 tied to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its 100% of its initial level on any quarterly call date after one year, the notes will be called at par plus 9% per year.
If the notes are not called and each index finishes at or above its initial level, the payout will be par plus 45%.
If either index falls by up to 30%, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the lesser performing index from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
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: | Russell 2000, S&P 500
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Amount: | $950,000
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Maturity: | Oct. 2, 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 finishes at or above its initial level, par plus 45%; if either index falls by up to 30%, par; otherwise, 1% loss for every 1% decline of the lesser performing index
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Call: | If each index closes at or above its 100% of its initial level on any quarterly call date after one year, notes will be called at par plus a 9% annual premium
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Initial index levels: | 1,510.342 for Russell, 3,351.6 for S&P
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Barrier levels: | 70% of initial levels
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Pricing date: | Sept. 28
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Settlement date: | Sept. 30
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 3.75%
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Cusip: | 40057CY54
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