Published on 4/30/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $11.09 million step down trigger autocalls on S&P, Russell, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, April 30 – GS Finance Corp. priced $11.09 million of 0% step down trigger autocallable notes due April 27, 2026 linked to the least performing of the Russell 2000 index, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 7.2% if each index closes at or above its initial level on any quarterly review date after one year.
If the notes are not called, the payout at maturity will be par plus 36% unless any index closes below its 70% downside threshold, in which case investors will be fully exposed to any losses of the worse performing index.
The guarantor is Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter with UBS Financial Services Inc. as the selling agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Step down trigger autocallable notes
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| Underlying indexes: | S&P 500 index, Nasdaq-100 index, Russell 2000 index
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| Amount: | $11,089,000
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| Maturity: | April 27, 2026
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If each index finishes at or above 70% downside threshold, par plus 36%; otherwise, 1% loss for each 1% decline of worst performing index
|
| Call: | At par plus 7.2% per year if each index closes at or above its call threshold level on any quarterly observation date after one year
|
| Initial levels: | 4,134.98 for S&P, 13,762.36 for Nasdaq, 2,232.614 for Russell
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| Downside thresholds: | 2,894.486 for S&P, 9,633.652 Nasdaq, 1,562.83 for Russell; 70% of initial levels
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| Pricing date: | April 22
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| Settlement date: | April 27
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| Agent: | Goldman Sachs & Co. LLC
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| Underwriter: | UBS Financial Services Inc.
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| Fees: | 1.25%
|
| Cusip: | 36260W504
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