Published on 2/17/2021 in the Prospect News Structured Products Daily.
New Issue: GS prices $4.77 million autocallable contingent coupon equity notes on stocks
By Taylor Fox
New York, Feb. 17 – GS Finance Corp. priced $4.77 million of autocallable contingent coupon equity-linked notes due Feb. 2, 2026 linked to the common stocks of Amazon.com, Inc., Facebook, Inc., Netflix, Inc. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 20.8% if each stock closes above its coupon barrier price, 50% of its initial price, on a related determination date.
The notes will be automatically called at par if each stock closes at or above its initial share price on any quarterly call observation date after six months.
If the notes are not called and the final share price of each stock is greater than or equal to its final barrier price, 50% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the share price of the least performing stock.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying stocks: | Amazon.com, Inc., Facebook, Inc., Netflix, Inc. and Tesla, Inc.
|
| Amount: | $4,770,000
|
| Maturity: | Feb. 2, 2026
|
| Coupon: | 20.8% annual rate; payable quarterly if closing price of each stock is greater than or equal to coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par if each stock closes at or above final barrier level; otherwise, full exposure to decline of least performing stock
|
| Call: | At par if closing share price of least performing stock is greater than or equal to its initial share price on any quarterly observation date after six months
|
| Initial share prices: | $3,294 for Amazon, $556.78 for Netflix, $278.01 for Facebook and $880.80 for Tesla
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| Coupon barrier prices: | 50% of initial levels
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| Final barrier prices: | 50% of initial levels
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| Pricing date: | Jan. 25
|
| Settlement date: | Jan. 28
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 4.35%
|
| Cusip: | 40057F6Q2
|
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