Published on 6/21/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $2.4 million 6.5% autocallables linked to tech stocks
By Kiku Steinfeld
Chicago, June 21 – GS Finance Corp. priced $2.4 million of 6.5% autocallable fixed-coupon notes due May 28, 2024 linked to the stocks of Amazon.com, Inc., Alphabet Inc., Apple Inc. and Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Interest is payable monthly.
If each stock closes above its initial level on any quarterly call observation date after six months, the notes will be automatically called at par plus the coupon.
The payout at maturity will be par unless any stock finishes below its 60% trigger level, in which case investors will be exposed to the performance of the least-performing stock and will receive no more than par.
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 fixed-coupon notes
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Underlying stocks: | Amazon.com, Inc., Alphabet Inc., Apple Inc. and Netflix, Inc.
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Amount: | $2.4 million
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Maturity: | May 28, 2024
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Coupon: | 6.5%, payable monthly
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Price: | Par
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Call: | Automatically at par if each stock closes above its initial level on any quarterly call observation date after six months
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Payout at maturity: | Par unless any stock finishes below 60% trigger level, in which case full exposure to losses of least-performing stock
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Initial levels: | $3,232.28 for Amazon, $2,303.43 for Alphabet, $124.85 for Apple and $486.28 for Netflix
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Trigger buffer: | 60% of initial levels
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Pricing date: | May 18
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Settlement date: | May 21
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 3.3%
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Cusip: | 40057HAT7
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