Published on 5/19/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.01 million autocallable contingent coupon index-linked notes
By William Gullotti
Buffalo, N.Y., May 19 – GS Finance Corp. priced $2.01 million of autocallable contingent coupon index-linked notes due April 16, 2029 tied to the S&P 500 Value index, the Russell 2000 index and the Dow Jones industrial average, 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 4.5% if each index closes at or above the coupon trigger level, 70% of the initial level, on the valuation date for that period.
The notes will be called at par plus a coupon if each index closes at or above its initial index level on any quarterly call observation date.
If the notes are not called and each index closes at or above 70% of initial value, the payout at par plus coupon.
If any index falls by more than 30%, investors will be fully exposed to any losses of the least-performing index.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon index-linked notes
|
| Underlying indexes: | S&P Value index, Russell 2000 index, Dow Jones industrial average
|
| Amount: | $2,014,000
|
| Maturity: | April 16, 2029
|
| Coupon: | 4.5% annualized rate, payable quarterly if each index closes at or above coupon trigger level, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above trigger buffer level, par plus coupon; if any index falls by more than 30%, full exposure to losses
|
| Call: | At par plus coupon if each index closes at or above its initial level on any quarterly call observation date
|
| Initial index levels: | 1,423.52 for S&P Value, 2,243.474 for Russell, 33,800.6 for Dow
|
| Trigger buffer levels: | 70% of initial levels
|
| Coupon trigger levels: | 70% of initial levels
|
| Pricing date: | April 9
|
| Settlement date: | April 14
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 4.25%
|
| Cusip: | 40057FXC3
|
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