Published on 12/11/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $3.21 million notes on Nasdaq, S&P, Russell
By Cady Vishniac
Detroit, Dec. 11 – GS Finance Corp. priced $3.21 million of 0% index-linked notes due Dec. 9, 2025 tied to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the return on each index is flat or above its initial level, the payout at maturity will be par plus 115% of the least-performing index return.
If any index has a negative return but no index has fallen below 70% of its initial level, the payout will be par plus the absolute value of the least-performing index return.
If any index declines below 70% of its initial level, investors will be fully exposed to the losses of the least-performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Index-linked notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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| Amount: | $3,211,000
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| Maturity: | Dec. 9, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index’s final level is equal to or greater than its initial level, par plus 115% of the least-performing index return; if any index declines but no final index levels are less than 70% of the initial levels, par plus the absolute value of the least-performing index return; if any index declines below 70% of its initial level, full exposure to the losses of the least-performing index
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| Initial index levels: | 12,528.48 for Nasdaq, 1,892.449 for Russell and 3,699.12 for S&P
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| Trigger buffer levels: | 70% of initial levels
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| Pricing date: | Dec. 4
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| Settlement date: | Dec. 9
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 5.19%
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| Cusip: | 40057ETD9
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