Published on 9/4/2020 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $345,000 autocallable underlier-linked notes on index, ETF
By Sarah Lizee
Olympia, Wash., Sept. 4 – GS Finance Corp. priced $345,000 of 0% autocallable underlier-linked notes due Sept. 8, 2023 linked to the Nasdaq-100 index and the SPDR Gold Trust, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically called at par plus a 16% annualized call premium if the lesser-performing asset closes at or above its initial level on any annual call date.
If the lesser-performing asset finishes at or above its initial level, the payout at maturity will be par plus 48%. If the lesser-performing asset falls by up to 30%, the payout will be par. Otherwise, investors will be fully exposed to the lesser-performing asset’s decline from its initial level.
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: | Autocallable underlier-linked notes
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| Underlying assets: | Nasdaq-100 index and SPDR Gold Trust
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| Amount: | $345,000
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| Maturity: | Sept. 8, 2023
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| Coupon: | 0%
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| Price: | Par
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| Call: | Automatically at par plus a 16% annualized call premium if lesser-performing asset closes at or above initial level on any annual call observation date
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| Payout at maturity: | If the lesser-performing asset finishes at or above initial level, par plus 48%; if the final lesser-performing asset falls by up to 30%, the payout will be par; otherwise, investors will be fully exposed to the lesser-performing asset’s decline from its initial level
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| Initial levels: | 12,110.7 for index, $184.83 for fund
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| Barrier levels: | 70% of initial levels
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| Pricing date: | Aug. 31
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| Settlement date: | Sept. 3
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 0.8%
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| Cusip: | 40057CM65
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