Published on 5/6/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $15.14 million jump autocalls on Stoxx, S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, May 6 – GS Finance Corp. priced $15.14 million of 0% jump securities with autocallable feature due May 7, 2026 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 10% per year if each index closes at or above its call level, its initial level, on any quarterly determination date after one year.
If the final level of each index is greater than or equal to its call level, the payout at maturity will be par plus 50%.
If the final level of any index is less than its call level but the final level of each index is greater than or equal to its 80% downside threshold level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc..
Goldman Sachs & Co. LLC is the agent with Morgan Stanley Wealth Management as a dealer.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Jump securities with autocallable feature
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| Underlying indexes: | Russell 2000, S&P 500 and Euro Stoxx 50 index
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| Amount: | $15,137,010
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| Maturity: | May 7, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of each index is greater than or equal to call level, par plus 50%; if final level of any index is less than call level but final level of each index is greater than or equal to downside threshold level, par; otherwise, 1% loss for every 1% that least-performing index declines
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| Call: | Automatically at par plus 10% per year if each index closes at or above initial level on any quarterly determination date after one year
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| Initial levels: | 4,181.17 for S&P, 3,974.74 for Stoxx, 2,266.449 for Russell
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| Downside threshold levels: | 3,344.936 for S&P, 3,179.792 for Stoxx, 1,813.1592 for Russell; 80% of initial levels
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| Pricing date: | April 30
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| Settlement date: | May 6
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| Agent: | Goldman Sachs & Co. LLC with Morgan Stanley Wealth Management as a dealer
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| Fees: | 3.5%
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| Cusip: | 36260W363
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