Published on 9/19/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1 million autocallable index-linked notes on Stoxx, Russell, S&P
By Kiku Steinfeld
Chicago, Sept. 19 – GS Finance Corp. priced $1 million of 0% autocallable index-linked notes due Jan. 30, 2025 tied to the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its initial level on any quarterly call date after one year, the notes will be called at par plus an annual 9.8% premium.
If the notes are not called and each index finishes at or above 70% of its initial level, the payout will be par plus 29.4%.
Otherwise, investors will lose 1% for every 1% decline of the worst performer.
The notes are guaranteed by Goldman Sachs Group, Inc.
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 index-linked notes
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Underlying indexes: | Russell 2000, S&P 500, Euro Stoxx 50 index
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Amount: | $1 million
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Maturity: | Jan. 30, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the notes are not called and each index finishes at or above 70% of its initial level, par plus 29.4%; otherwise, 1% loss for every 1% decline of the worst performer
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Call: | If each index closes at or above initial level on any quarterly call date after one year, notes will be called at par plus 9.8% annual premium
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Initial index levels: | 2,004.033 for Russell, 4,356.45 for S&P, 4,078.26 for Stoxx
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Trigger buffer levels: | 70% of initial levels
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Pricing date: | Jan. 27, 2022
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Settlement date: | Feb. 1, 2022
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.25%
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Cusip: | 40057KWN9
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