Published on 1/5/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $24.24 million jump notes with autocall feature on three indexes
By Marisa Wong
Los Angeles, Jan. 5 – GS Finance Corp. priced $24.24 million of 0% jump securities with autocallable feature due Jan. 6, 2026 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 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 of $10 plus a call premium of 10.5% per year if each index closes at or above its initial level on any quarterly observation date starting after one year.
If the notes have not been called and each index finishes at or above its initial level, the payout at maturity will be par plus 52.5%.
If any index finishes below its initial level but each index finishes at or above 75% of its initial level, the payout will be par. Otherwise, investors will be fully exposed to the decline of the worst performing index.
Goldman Sachs & Co. LLC is the agent with Morgan Stanley Wealth Management as dealer.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Jump securities with autocallable feature
|
| Underlying indexes: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
|
| Amount: | $24,242,650
|
| Maturity: | Jan. 6, 2026
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Call: | At par plus annualized premium of 10.5% if each index closes at or above its initial level on any quarterly observation date starting after one year
|
| Payout at maturity: | Par plus 52.5% maturity date premium if each index closes at or above initial level; if any index falls but each index finishes at or above downside threshold, par; otherwise, full exposure to worst performing index’s decline from initial level
|
| Initial levels: | 3,732.04 for S&P, 1,979.992 for Russell and 3,571.59 for Stoxx
|
| Downside thresholds: | 2,799.03 for S&P, 1,484.994 for Russell and 2,678.6925 for Stoxx; 75% of initial levels
|
| Pricing date: | Dec. 30
|
| Settlement date: | Jan. 5
|
| Agent: | Goldman Sachs & Co. LLC
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 3.85%
|
| Cusip: | 36259Q781
|
|
|
© 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.
