Published on 8/10/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $10 million autocallable equity-linked notes on five tech stocks
By William Gullotti
Buffalo, N.Y., Aug. 10 – GS Finance Corp. priced $10 million of autocallable equity-linked securities due July 31, 2025 tied to the stocks of Apple Inc., Facebook, Inc., Amazon.com, Inc., Microsoft Corp. and Alphabet Inc. according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically redeemed at par plus a 13% annualized call premium if the worst-performing stock closes at or above its initial price on any annual observation date.
If the notes are not called and the final price of each stock is at or above the 60% downside threshold, the payout at maturity will be par plus 52%. Otherwise, investors will be exposed to the loss of the least-performing stock.
Goldman Sachs & Co. LLC is the agent with JP Morgan acting as placement agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable equity-linked securities
|
| Underlying stocks: | Apple Inc., Facebook, Inc., Amazon.com, Inc., Microsoft Corp., Alphabet Inc.
|
| Amount: | $10,000,000
|
| Maturity: | July 31, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 52% if each stock’s final price is greater than or equal to 60% of its initial price; otherwise, full exposure to losses of least-performing stock
|
| Call: | Automatically at par plus a 13% annualized call premium if the worst-performing stock closes at or above its initial price on any annual evaluation date
|
| Initial prices: | $2,638.00 for Alphabet, $286.54 for Microsoft.com, $146.77 for Apple, $367.81 for Facebook, $3,626.39 for Amazon
|
| Downside thresholds: | 60% of initial levels
|
| Strike date: | July 27
|
| Pricing date: | July 28
|
| Settlement date: | Aug. 2
|
| Agent: | Goldman Sachs & Co. LLC
|
| Placement Agent: | JP Morgan
|
| Fees: | 0.45%
|
| Cusip: | 40057J2S4
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
