Published on 3/25/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $4.47 million contingent income autocalls on indexes
By Taylor Fox
New York, March 25 – GS Finance Corp. priced $4.47 million of contingent income autocallable securities due March 17, 2026 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 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 11.25% if the lowest performing index closes at or above the 80% coupon threshold on the related quarterly determination date.
The notes will be called at par plus the contingent coupon if the lowest performing index closes at or above its initial level on any quarterly determination date beginning Sept. 13, 2021.
The payout at maturity will be par plus any final coupon unless the lowest performing index finishes below its 75% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performer.
Goldman Sachs & Co. LLC is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Contingent income autocallable securities
|
| Underlying indexes: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
|
| Amount: | $4,474,000
|
| Maturity: | March 17, 2026
|
| Coupon: | 11.25% per year, payable each quarter that index closes at or above coupon threshold level on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If lowest performing index finishes at or above downside threshold, par plus any final coupon; otherwise, full exposure to decline of the worst performer
|
| Call: | At par plus contingent coupon if lowest performing index closes at or above initial level on any determination date beginning Sept. 13, 2021
|
| Initial index levels: | 3,943.34 for S&P, 2,352.789 for Russell and 3,833.36 for Stoxx
|
| Coupon threshold levels: | 3,154.672 for S&P, 1,882.2312 for Russell and 3,066.688 for Stoxx; 80% of initial levels
|
| Downside thresholds: | 2,957.505 for S&P, 1,764.59175 for Russell and 2,875.02 for Stoxx; 75% of initial levels
|
| Pricing date: | March 12
|
| Settlement date: | March 17
|
| Agent: | Goldman Sachs & Co. LLC
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 3.35%
|
| Cusip: | 40057FQF4
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
