Published on 6/15/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $500,000 autocallable index-linked notes on Russell, S&P
By William Gullotti
Buffalo, N.Y., June 15 – GS Finance Corp. priced $500,000 of 0% autocallable index-linked notes due May 24, 2024 tied to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its initial level on May 31, 2022, the notes will be called at par plus 8%.
If the notes are not called and each index finishes at or above its initial level, the payout will par plus 1.5 times the return of the least performing index.
If the worst performer finishes above 80% of its initial level, the payout will be par.
If any index falls by more than 20%, investors will be exposed to any losses of the lesser-performing index beyond the 20% buffer.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable index-linked notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index
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| Amount: | $500,000
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| Maturity: | May 24, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the notes are not called and each index finishes at or above its initial level, par plus 1.5 times the gain of the least performing index; if worst performer finishes above 80% of initial level, par; if any index falls by more than 20%, investors will be exposed to any losses of the lesser-performing index beyond the 20% buffer
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| Call: | If each index closes at or above initial level on May 31, 2022, notes will be called at par plus 8%
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| Initial index levels: | 4,159.12 for S&P, 2,207.76 for Russell
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| Trigger buffer levels: | 80% of initial levels
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| Pricing date: | May 20
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| Settlement date: | May 25
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 40057HDX5
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