Published on 6/16/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $685,000 autocallable index-linked notes on three indexes
By William Gullotti
Buffalo, N.Y., June 16 – GS Finance Corp. priced $685,000 of 0% autocallable index-linked notes due June 16, 2026 tied to the Euro Stoxx Banks index, the Nasdaq-100 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 any annual call observation date, the notes will be called at par plus 13.3%.
If the notes are not called and each index finishes at or above its initial level, the payout will be par plus 66.5%.
If the worst performer finishes below its initial level but above 70% of its initial level, the payout will be par.
If any index falls by more than 30%, investors will be exposed to the losses of the lesser-performing index from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable index-linked notes
|
| Underlying indexes: | Euro Stoxx Banks index, Nasdaq-100 index, Russell 2000 index
|
| Amount: | $685,000
|
| Maturity: | June 16, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the notes are not called and each index finishes at or above its initial level, par plus 66.5%; if the worst performer finishes below its initial level but above 70% of its initial level, par; if any index falls by more than 30%, investors will be exposed to the losses of the lesser-performing index
|
| Call: | If each index closes at or above initial level on any annual observation date, notes will be called at par plus 13.3% per year
|
| Initial index levels: | 98.1 for Stoxx Banks, 13,814.94 for Nasdaq, 2,327.128 for Russell
|
| Trigger buffer levels: | 70% of initial levels
|
| Pricing date: | June 9
|
| Settlement date: | June 14
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 4.125%
|
| Cusip: | 40057HKW9
|
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