Published on 3/18/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $4.29 million autocallable index-linked notes on Nasdaq, Dow, Russell
By Kiku Steinfeld
Chicago, March 18 – GS Finance Corp. priced $4.29 million of 0% autocallable index-linked notes due March 11, 2024 tied to the Nasdaq-100 index, the Dow Jones industrial average 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.
The notes will be called at par plus an annual 13.35% call premium if each index closes at or above its index level on any semiannual call observation date after one year.
If the notes are not called and each index closes at or above its initial level, the payout at maturity will be par plus the return of the least performing index.
If any index falls by up to 30%, the payout at maturity will be par.
If any index falls by more than 30%, investors will be exposed to any losses of the least-performing index.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable index-linked notes
|
| Underlying indexes: | Nasdaq-100, Dow Jones industrial average, Russell 2000
|
| Amount: | $4,293,000
|
| Maturity: | March 11, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above initial level, par plus the return of the least performing index; if any index falls by up to 30%, par; if any index falls by more than 30%, par plus return of least-performing index, with full exposure to losses
|
| Call: | At par plus annual 13.35% premium if each index closes above its initial level on semiannual call date after one year
|
| Initial index levels: | 31,391.52 for Dow, 13,059.95 for Nasdaq and 2,231.509 for Russell
|
| Trigger buffer levels: | 70% of initial levels
|
| Pricing date: | March 2
|
| Settlement date: | March 5
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 3.05%
|
| Cusip: | 40057FKN3
|
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