Published on 8/21/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $885,000 autocallable notes on Nasdaq, SPDR Gold Trust
By Kiku Steinfeld
Chicago, Aug. 21 – GS Finance Corp. priced $885,000 of 0% autocallable underlier-linked notes due Aug. 7, 2023 linked to the lesser performing index of the Nasdaq-100 index and the SPDR Gold Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically called at par plus an annualized call premium of 17.5% if each underlying closes at or above 100% of its initial level on any annual call valuation date.
If the final level of the lesser-performing underlying is at least 100% of its initial level, the payout will be par plus 52.5%. If either underlying declines by more than 10% but not by more than 30%, the payout will be par. Otherwise, investors will lose 1% for each 1% decline of the lesser-performing underlying from its initial level.
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 underlier-linked notes
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| Underlying assets: | Nasdaq-100 index, SPDR Gold Trust
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| Amount: | $885,000
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| Maturity: | Aug. 7, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the final level of the lesser-performing underlying is at least 100% of its initial level, par plus 52.5%; if the either underlying declines by more than 10% but not by more than 30%, par; otherwise, 1% loss for each 1% decline of the lesser-performing underlying from its initial level
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| Call: | Automatically called at par plus an annualized call premium of 17.5% if each underlying closes at or above 100% of its initial level on any annual call valuation date
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| Initial levels: | 10,905.880 for index and $185.43 for ETF
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| Pricing date: | July 31
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| Settlement date: | Aug. 5
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 40057CEV9
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