By Taylor Fox
New York, Nov. 2 – GS Finance Corp. priced $3.2 million of 0% buffer autocallable gears due Oct. 6, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes can be automatically called on the call observation date, March 29, 2021, if the index finishes above its initial level. The payout on the call date would be $10.30 per $10 of notes.
If the index return is greater than zero, the payout at maturity will be par of $10 plus two times the index return. Investors will receive par if the index declines by 10% or less and lose 1% for every 1% that the index declines beyond 10%.
Goldman Sachs & Co. LLC is the agent. UBS Financial Services Inc. is the selling agent.
| Issuer: | GS Finance Corp.
|
| Issue: | Capped buffer gears
|
| Underlying index: | S&P 500
|
| Amount: | $3,200,000
|
| Maturity: | March 29, 2021
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the index return is greater than zero, par plus 2 times the index return; par if the index declines by 10% or less; 1% loss for every 1% decline beyond 10%
|
| Call: | Automatically at $10.30 per $10 of notes if index finishes above initial level on March 29, 2021
|
| Initial index level: | 3,351.60
|
| Buffer level: | 90% of initial level
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| Pricing date: | Sept. 29
|
| Settlement date: | Sept. 30
|
| Agent: | Goldman Sachs & Co. LLC
|
| Selling agent: | UBS Financial Services Inc.
|
| Fees: | 1.6%
|
| Cusip: | 36259L824
|
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