Published on 12/13/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.06 million autocallable index-linked notes on S&P, Russell Value
By Kiku Steinfeld
Chicago, Dec. 13 – GS Finance Corp. priced $1.06 million of 0% autocallable index-linked notes due Dec. 3, 2024 tied to the S&P 500 index and the Russell 2000 Value index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its initial level on Nov. 23, 2022, the notes will be called at par plus a 10% call premium.
If the notes are not called and each index finishes above its initial level, the payout will be par plus 1.5 times the lowest return.
If the worst performer finishes above 70% of its initial level, the payout will be par.
If any index falls by more than 30%, investors will be exposed to the decline of the worst performing index from its initial level.
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: | S&P 500 index, Russell 2000 Value index
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| Amount: | $1,059,000
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| Maturity: | Dec. 3, 2024
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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 above its initial level, par plus 1.5 times lowest return; if worst performer finishes above 70% of initial level, par; if any index falls by more than 30%, investors will be exposed to the decline of the worst performing index from its initial level
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| Call: | If each index closes at or above initial level on Nov. 23, 2022, notes will be called at par plus 10%
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| Initial index levels: | 4,690.70 for S&P, 2,565.457 for Russell Value
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| Trigger buffer levels: | 70% of initial levels
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| Pricing date: | Nov. 23
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| Settlement date: | Nov. 29
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 3.5%
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| Cusip: | 40057JYB6
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