Published on 1/6/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.81 million contingent coupon autocalls on four stocks
By Wendy Van Sickle
Columbus, Ohio, Jan. 6 – GS Finance Corp. priced $2.81 million of autocallable contingent coupon stock-linked notes due Jan. 5, 2028 linked to the common stocks of Amazon.com, Inc., MercadoLibre, Inc., Netflix, Inc. and Meta Platforms, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Each quarter, the notes pay a contingent coupon at an annualized rate of 14.25% if each stock closes at or above its coupon trigger level, 60% of its initial level, on the observation date for that period.
The notes will be automatically called at par if each stock closes at or above its initial level on any quarterly call date after six months.
The payout at maturity will be par unless any stock closes below its 60% trigger level, in which case investors will lose 1% for every 1% decline of the least-performing stock from its initial level.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon stock-linked notes
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| Underlying stocks: | Amazon.com, Inc., MercadoLibre, Inc., Netflix, Inc. and Meta Platforms, Inc.
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| Amount: | $2,805,000
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| Maturity: | Jan. 5, 2028
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| Coupon: | 14.25% per year, payable each quarter that each stock closes at or above its coupon trigger level on observation date for that period
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| Price: | Par
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| Payout at maturity: | Par unless any stock closes below trigger level, in which case 1% loss for every 1% that least-performing stock declines from initial level
|
| Call: | Automatically called at par if each stock closes at or above its initial level on any quarterly call date after six months
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| Initial levels: | $1,323.56 for MercadoLibre, $3,384.02 for Amazon, $342.94 for Meta and $610.54 for Netflix
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| Coupon trigger levels: | 60% of initial levels
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| Trigger levels: | 60% of initial levels
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| Pricing date: | Dec. 29
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| Settlement date: | Jan. 3
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 4.25%
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| Cusip: | 40057KK93
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