Published on 8/30/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $13.62 million step-down trigger autocalls linked to Nasdaq, Russell
By Taylor Fox
New York, Aug. 30 – GS Finance Corp. priced $13.62 million of 0% step-down trigger autocallable notes due Feb. 27, 2026 linked to the lesser performing of the Nasdaq-100 index and the Russell 2000 index, 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 called at par of $10 plus 7.9% per year if each index closes at or above its initial level on any quarterly call observation date after one year.
If the notes are not called and the final level of each index is greater than or equal to its downside threshold, 70% of its initial level, the payout at maturity will be $13.95 per $10 note. Otherwise, investors will be exposed to the decline of the lesser-performing index from its initial level.
Goldman Sachs & Co. LLC is the underwriter, and UBS Financial Services Inc. is the selling agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Step-down trigger autocallable notes
|
| Underlying indexes: | Nasdaq-100 and Russell 2000 index
|
| Amount: | $13,616,910
|
| Maturity: | Feb. 27, 2026
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final level of each index is greater than or equal to downside threshold, par plus 39.5%; otherwise, exposure to decline of lesser-performing index from initial level
|
| Call: | At par plus 7.9% per year if each index closes at or above initial level on any quarterly observation date after one year
|
| Initial levels: | 2,284.381 for Russell and 13,302.19 for Nasdaq
|
| Downside thresholds: | 1,599.067 for Russell and 9,311.533 for Nasdaq, or 70% of initial levels
|
| Pricing date: | Feb. 24
|
| Settlement date: | Feb. 26
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Selling agent: | UBS Financial Services Inc.
|
| Fees: | 2.85%
|
| Cusip: | 36259Y248
|
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