Published on 11/27/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.73 million contingent coupon autocalls on S&P, Russell, Nasdaq
By Kiku Steinfeld
Chicago, Nov. 29 – GS Finance Corp. priced $1.73 million of autocallable contingent coupon notes due Feb. 21, 2023 linked to the S&P 500 index, 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 pay a contingent quarterly coupon of 10.15% per annum if each index closes at or above its 80% coupon trigger level on the determination date for that quarter.
After six months, the notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par unless any index finishes below its initial level and any index closes below 70% of its initial level during the life of the notes, in which case investors will be fully exposed to the decline of the least performing index from 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: | Autocallable contingent coupon notes
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| Underlying indexes: | S&P 500, Russell 2000, Nasdaq-100 index
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| Amount: | $1,732,000
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| Maturity: | Feb. 21, 2023
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| Contingent coupon: | 10.15% annualized, payable quarterly if each index closes at or above its 80% coupon trigger level on the determination date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its initial level and any index closes below its trigger buffer level during the life of the notes, in which case investors will be fully exposed to the decline of the least performing index from its initial level
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| Call: | After six months, automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly call observation date
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| Initial index levels: | 4,468.00 for S&P, 2,223.108 for Russell, 15,136.68 for Nasdaq
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| Coupon trigger levels: | 80% of initial levels
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| Trigger buffer levels: | 70% of initial levels
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| Pricing date: | Aug. 13
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| Settlement date: | Aug. 18
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.37%
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| Cusip: | 40057HZ45
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