Published on 3/25/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $500,000 autocallable index-linked notes on Stoxx, Russell, S&P
By Kiku Steinfeld
Chicago, March 25 – GS Finance Corp. priced $500,000 of 0% autocallable index-linked notes due March 19, 2026 tied to the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its initial level on any quarterly call date after one year, the notes will be called at par plus an annual 7.3% premium.
If the notes are not called and each index finishes at or above 70% of its initial level, the payout will be par plus 36.5%.
If the worst performer finishes between 50% and 70% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the worst performer.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable index-linked notes
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| Underlying indexes: | Russell 2000, S&P 500, Euro Stoxx 50 index
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| Amount: | $500,000
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| Maturity: | March 19, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the notes are not called and each index finishes at or above 70% of its initial level, par plus 36.5%; if worst performer finishes between 50% and 70% of initial level, par; otherwise, 1% loss for every 1% decline of the worst performer
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| Call: | If each index closes at or above initial level on any quarterly call date after one year, notes will be called at par plus 7.3% annual premium
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| Initial index levels: | 2,319.518 for Russell, 3,962.71 for S&P, 3,850.96 for Stoxx
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| Trigger buffer levels: | 50% of initial levels
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| Pricing date: | March 16
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| Settlement date: | March 19
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.6%
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| Cusip: | 40057FSV7
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