Published on 8/6/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $5.59 million contingent income autocalls on three indexes
By William Gullotti
Buffalo, N.Y., Aug. 6 – GS Finance Corp. leveld $5.59 million of contingent income autocallable securities due Aug. 3, 2023 linked to the performance of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, 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 8.35% if the lowest performing index closes at or above the 80% coupon threshold on the related quarterly determination date.
The notes will be called at par plus the contingent coupon if the lowest performing index closes at or above its initial level on any quarterly determination date.
If the lowest performing index finishes at or above the downside threshold, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level.
Goldman Sachs & Co. LLC is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Contingent income autocallable securities
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Euro Stoxx 50 index
|
| Amount: | $5,587,000
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| Maturity: | Aug. 3, 2023
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| Coupon: | 8.35% per year, payable quarterly if each index closes at or above coupon threshold on the relevant observation date
|
| Level: | Par
|
| Payout at maturity: | If lowest performing index finishes at or above downside threshold, par plus coupon; otherwise, full exposure to decline of the worst performer from its initial level
|
| Call: | Automatically at par plus coupon if lowest performing index closes at or above initial level on any quarterly determination date
|
| Initial share levels: | 4,395.26 for S&P, 2,226.246 for Russell, 4,089.3 for Stoxx
|
| Coupon threshold levels: | 3,516.208 for S&P, 1,780.9968 for Russell, 3,271.44 for Stoxx; 80% of initial levels
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| Downside thresholds: | 3,516.208 for S&P, 1,780.9968 for Russell, 3,271.44 for Stoxx; 80% of initial levels
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| Pricing date: | July 30
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| Settlement date: | Aug. 4
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| Agent: | Goldman Sachs & Co. LLC
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| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2%
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| Cusip: | 40057HY46
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