Published on 4/23/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $650,000 contingent coupon autocalls on S&P Value, Russell, Nasdaq
By Kiku Steinfeld
Chicago, April 23 – GS Finance Corp. priced $650,000 of autocallable contingent coupon index-linked notes due April 9, 2029 linked to the S&P 500 Value 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.
Each quarter, the notes pay a contingent coupon at an annualized rate of 5% if each index closes at or above its trigger level, 70% of its initial level, on the observation date for that period.
The notes will be automatically called at par if each index closes at or above its initial level on any quarterly call observation date after one year.
The payout at maturity will be par unless any index closes below its 70% trigger level, in which case investors will lose 1% for every 1% decline of the least-performing index 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 index-linked notes
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| Underlying indexes: | S&P 500 Value index, Nasdaq-100 index and Russell 2000 index
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| Amount: | $650,000
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| Maturity: | April 9, 2029
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| Coupon: | 5% per year, payable each quarter that each index closes at or above its trigger level on observation date for that period
|
| Price: | Par
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| Payout at maturity: | Par unless any index closes below trigger level, in which case 1% loss for every 1% that least-performing index declines from initial level
|
| Call: | Automatically called at par if each index closes at or above its initial level on any quarterly call observation date after one year
|
| Initial levels: | 13,329.51 for Nasdaq, 2,253.903 for Russell, 1,406.69 for S&P Value
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| Trigger levels: | 70% of initial levels
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| Pricing date: | April 1
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| Settlement date: | April 6
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 4.25%
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| Cusip: | 40057FVT8
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