Published on 3/10/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $4.09 million step-down trigger autocalls linked to Nasdaq, Russell
By Kiku Steinfeld
Chicago, March 10 – GS Finance Corp. priced $4.09 million of 0% step-down trigger autocallable notes due Feb. 27, 2026 linked to the lesser performing of 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.
After one year, the notes will be automatically called at par of $10 plus 9.6% per year if each index closes at or above its initial level on any quarterly call observation date.
If not called, the payout at maturity will be $14.80 per $10.00 of notes if both indexes finish above 70% of their initial levels.
Otherwise, investors will be exposed to the losses of the worst performer.
Goldman Sachs & Co. LLC is the underwriter, and UBS Financial Services Inc. is the selling agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Step-down trigger autocallable notes
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| Underlying indexes: | Nasdaq-100 and Russell 2000 index
|
| Amount: | $4,091,300
|
| Maturity: | Feb. 27, 2026
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final level of each index is greater than or equal to downside threshold, $14.80 per $10.00 note; otherwise, exposure to decline of lesser-performing index from initial level
|
| Call: | At par plus 9.6% per year if each index closes at or above initial level on any quarterly observation date after one year
|
| Initial levels: | 13,302.19 for Nasdaq-100 and 2,284.381 for Russell
|
| Downside thresholds: | 9,311.533 for Nasdaq-100 and 1,599.067 for Russell, or 70% of initial levels
|
| Pricing date: | Feb. 24
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| Settlement date: | Feb. 26
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| Underwriter: | Goldman Sachs & Co. LLC
|
| Selling agent: | UBS Financial Services Inc.
|
| Fees: | 0.35%
|
| Cusip: | 36259Y255
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