Published on 1/26/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.71 million callable contingent coupon notes on three indexes
Chicago, Jan. 26 – GS Finance Corp. priced $1.71 million of callable contingent coupon index-linked notes due Sept. 1, 2026 tied to the Nasdaq-100 Technology Sector index, the S&P 500 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 pay a contingent quarterly coupon at an annual rate of 6.9% if each index closes at or above the coupon trigger level, 70% of the initial level, on the valuation date for that period.
The notes may be called at par plus any coupon due on any quarterly call observation date after six months.
If the notes have not been called, the payout at maturity will be par unless any index closes below its 60% trigger buffer level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level.
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: | Callable contingent coupon index-linked notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 Technology Sector index
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| Amount: | $1,710,000
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| Maturity: | Sept. 1, 2026
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| Coupon: | 6.9% annualized rate, payable quarterly if each index closes at or above coupon trigger level, on valuation date for that period
|
| Price: | Par
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| Payout at maturity: | Par unless any index closes below its trigger buffer level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level
|
| Call: | At par plus any coupon due on any quarterly call observation date after six months
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| Initial index levels: | 4,509.37 for S&P, 2,277.151 for Russell, 9,181.584 for Nasdaq
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| Coupon trigger levels: | 70% of initial levels
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| Trigger buffer levels: | 60% of initial levels
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| Pricing date: | Aug. 27
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| Settlement date: | Sept. 1
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 40057JFR2
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