Published on 6/24/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.31 million autocallable contingent coupon index-linked notes
By William Gullotti
Buffalo, N.Y., June 24 – GS Finance Corp. priced $2.31 million of autocallable contingent coupon index-linked notes due Nov. 15, 2022 tied to the Nasdaq-100 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 7.4% if each index closes at or above the coupon trigger level, 70% of the initial level, on the valuation date for that period.
After six months, 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.
The payout at maturity will be par unless any index closes below its 70% trigger level during the life of the notes and any index finishes below its initial level, in which case investors will be exposed to the 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: | Nasdaq-100 index, Russell 2000 index, Dow Jones industrial average
|
| Amount: | $2,312,000
|
| Maturity: | Nov. 15, 2022
|
| Coupon: | 7.4% 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: | Par unless any index closes below trigger level during life of notes and any index finishes below initial level, in which case exposure to losses of least-performing index
|
| Call: | After six months, at par plus coupon if each index closes at or above its initial level on any quarterly call observation date
|
| Initial index levels: | 13,719.63 for Nasdaq, 2,271.629 for Russell, 34,777.76 for Dow
|
| Trigger level: | 70% of initial levels
|
| Coupon trigger level: | 70% of initial levels
|
| Pricing date: | May 7
|
| Settlement date: | May 12
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 2.21%
|
| Cusip: | 40057H5K2
|
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