Published on 1/4/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $36.17 million trigger autocallable contingent yield notes on Russell, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Jan. 4 – GS Finance Corp. priced $36.17 million of trigger autocallable contingent yield notes due Dec. 29, 2023 linked to the Russell 2000 index and the Nasdaq-100 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 6.04% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par of $10 if each index closes at or above its initial level on any observation date after six months.
The payout at maturity will be par plus any coupon due unless either index finishes below the 70% downside threshold level, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
UBS Financial Services Inc. and Goldman Sachs & Co. LLC are the agents.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Russell 2000, Nasdaq-100 index
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| Amount: | $36,171,930
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| Maturity: | Dec. 29, 2023
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| Coupon: | 6.04%, payable quarterly if each index closes at or above coupon barrier level on observation date
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| Price: | Par of $10
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| Call: | At par plus contingent coupon if each index closes at or above initial level on any observation date after six months
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| Payout at maturity: | Par plus any coupon unless index closes below downside threshold level, in which case 1% loss for each 1% decline of worse performing index from initial level
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| Initial levels: | 1,959.363 for Russell, 12,843.49 for Nasdaq
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| Coupon barriers: | 1,371.5541 for Russell, 8,990.443 for Nasdaq, 70% of initial levels
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| Downside thresholds: | 1,371.5541 for Russell, 8,990.443 for Nasdaq, 70% of initial levels
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| Pricing date: | Dec. 29
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| Settlement date: | Dec. 31
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| Agents: | UBS Financial Services Inc. and Goldman Sachs & Co. LLC
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| Fees: | 2.175%
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| Cusip: | 36259U238
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