Published on 9/30/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $10 million autocallable equity-linked notes on three stocks
By Wendy Van Sickle
Columbus, Ohio, Sept. 30 – GS Finance Corp. priced $10 million of autocallable equity-linked securities due Sept. 24, 2026 tied to the stocks of Capital One Financial Corp., Facebook, Inc. and Workday, 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 14.9% 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 74.5%. 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.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable equity-linked securities
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| Underlying stocks: | Capital One Financial Corp., Facebook, Inc. and Workday, Inc.
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| Amount: | $10,000,000
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| Maturity: | Sept. 24, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 74.5% 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
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| Call: | Automatically at par plus a 14.9% annualized call premium if the worst-performing stock closes at or above its initial price on any annual evaluation date
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| Initial prices: | $355.70 for Facebook, $267.19 for Workday, $156.37 for Capital One
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| Downside thresholds: | 60% of initial levels
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| Pricing date: | Sept. 21
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| Settlement date: | Sept. 24
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| Agent: | Goldman Sachs & Co. LLC
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| Placement Agent: | JP Morgan
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| Fees: | 0.75%
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| Cusip: | 40057JLY0
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