Published on 4/21/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $720,000 autocallable underlier-linked notes on index, ETF
By Wendy Van Sickle
Columbus, Ohio, April 21 – GS Finance Corp. priced $720,000 of 0% autocallable underlier-linked notes due April 7, 2025 linked to the Russell 2000 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically called at par plus a 10.7% annualized call premium if the lesser-performing asset closes at or above its initial level on any annual call date.
If the lesser-performing asset finishes at or above 90% of its initial level, the payout at maturity will be par plus 42.8%. If the lesser-performing asset falls by between 10% and 30%, the payout will be par. Otherwise, investors will be exposed to the lesser-performing asset’s decline from its initial level.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable underlier-linked notes
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| Underlying assets: | Russell 2000 index and iShares MSCI Emerging Markets ETF
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| Amount: | $720,000
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| Maturity: | April 7, 2025
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| Coupon: | 0%
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| Price: | Par
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| Call: | Automatically at par plus a 10.7% annualized call premium if lesser-performing asset closes at or above initial level on any annual call observation date
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| Payout at maturity: | If the lesser-performing asset finishes at or above 90% of initial level, par plus 42.8%; if the final lesser-performing asset falls by more than 10% but not more than 30%, the payout will be par; otherwise, investors will be fully exposed to the lesser-performing asset’s decline from its initial level
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| Initial levels: | 2,220.519 for index, $53.34 for fund
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| Pricing date: | March 31
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| Settlement date: | April 5
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 1%
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| Cusip: | 40057FUJ1
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