Published on 4/23/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $746,000 autocallable contingent coupon notes on Russell, Nasdaq, S&P
B y Kiku Steinfeld
Chicago, April 23 – GS Finance Corp. priced $746,000 of autocallable contingent coupon notes due Oct. 11, 2022 linked to the S&P 500 index, 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.
The notes will pay a contingent quarterly coupon of 8.75% per annum if each index closes at or above its 70% coupon trigger level on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly call observation date after six months.
The payout at maturity will be par if all indexes finish above their initial levels or if no index ever closes below 60% of its initial level on any day during the life of the notes. Otherwise, investors will be fully exposed to the decline of the least performing index from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying indexes: | S&P 500, Nasdaq-100 and Russell 2000
|
| Amount: | $746,000
|
| Maturity: | Oct. 11, 2022
|
| Contingent coupon: | 8.75% annualized, payable quarterly if each index closes at or above coupon trigger level on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below its initial level and any index has ever closed below its trigger buffer level during the life of the notes, in which case exposure to decline of least performing index from its initial level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly call observation date after six months
|
| Initial index levels: | 13,329.51 for Nasdaq, 2,253.903 for Russell, 4,019.87 for S&P
|
| Coupon trigger levels: | 70% of initial levels
|
| Trigger buffer levels: | 60% of initial levels
|
| Pricing date: | April 1
|
| Settlement date: | April 6
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.65%
|
| Cusip: | 40057FU51
|
|
|
© 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.
