By Taylor Fox
New York, Nov. 23 – GS Finance Corp. priced $3 million of 0% autocallable ETF-linked notes due Nov. 24, 2025 tied to the iShares Silver Trust and the Industrial Select Sector SPDR fund, 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 plus 12.1% per year if each ETF closes at or above its initial level on any quarterly call date, starting Nov. 16, 2021.
If each ETF finishes at or above its initial level, the payout will be $1,605 per $1,000 of notes.
If either ETF falls by up to 20%, the payout will be par.
If either ETF falls by more than 20%, investors will be exposed to the lesser performing ETF’s decline beyond 20%.
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 ETF-linked notes
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| Underlying ETFs: | iShares Silver Trust and the Industrial Select Sector SPDR Fund
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| Amount: | $3 million
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| Maturity: | Nov. 24, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each ETF finishes at or above its initial level, $1,605 per $1,000 of notes; if either ETF falls by up to 20%, par; if either ETF falls by more than 20%, investors will be exposed to the lesser performing ETF’s decline beyond 20%
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| Call: | At par plus 12.1% per year if each ETF closes at or above its initial level on any quarterly call date, starting Nov. 16, 2021
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| Initial levels: | $23.02 for iShares and $87.85 for Industrial
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| Buffer levels: | 80% of initial levels
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| Pricing date: | Nov. 16
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| Settlement date: | Nov. 19
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 3.85%
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| Cusip: | 40057ENF0
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