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Published on 11/4/2020 in the Prospect News Structured Products Daily.

New Issue: GS Finance sells $1.73 million autocallable index-linked notes on S&P 500

By Kiku Steinfeld

Chicago, Nov. 4 – GS Finance Corp. priced $1.73 million of 0% autocallable index-linked notes due Oct. 29, 2021 tied 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 will be called at par plus a 3.75% premium if the index closes at or above 90% of its initial level on April 30, 2021.

If the notes are not called and the index finishes above its initial level, the payout at maturity will be par plus double the index return, capped at par plus 80%.

If the index declines by 20% or less, the payout will be par. Otherwise, investors will be exposed to the index’s decline from the initial level.

Goldman Sachs & Co. LLC is the agent.

Issuer:GS Finance Corp.
Guarantor:Goldman Sachs Group, Inc.
Issue:Autocallable index-linked notes
Underlying index:S&P 500
Amount:$1.73 million
Maturity:Oct. 29, 2021
Coupon:0%
Price:Par
Payout at maturity:If the notes are not called and the index finishes above its initial level, par plus 2 times the index return, capped at par plus 80%; par if index declines by 20% or less; otherwise, full exposure to index’s decline
Call:At par plus 3.75% if index closes at or above 90% of its initial level on April 30, 2021
Initial level:3,465.39
Trigger buffer level:80% of initial level
Pricing date:Oct. 23
Settlement date:Oct. 28
Agent:Goldman Sachs & Co. LLC
Fees:1.35%
Cusip:40057EGJ0

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