Published on 8/28/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.31 million autocallable index-linked notes on three indexes
By Kiku Steinfeld
Chicago, Aug. 30 – GS Finance Corp. priced $1.31 million of 0% autocallable index-linked notes due July 5, 2024 tied to the S&P 500 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 July 7, 2022, the notes will be called at par plus 10.5%.
If the notes are not called and each index gains, the payout at maturity will be par plus 2 times the return of the least performing index.
If the worst performer finishes flat or falls by no more than 15% of its initial level, the payout will be par.
Otherwise, investors will lose 1.1765% for each 1% decline of the worst performing index beyond 15%
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.
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| Issue: | Autocallable index-linked notes
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| Underlying indexes: | S&P 500 index, Nasdaq-100 index, Russell 2000 index
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| Amount: | $1,307,000
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| Maturity: | July 5, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 2 times any gain of least performing index; if worst performer finishes flat or falls by no more than 15%, par; otherwise, 1.1765% loss for each 1% decline of worst performer beyond 15%
|
| Call: | If each index closes at or above initial level on July 7, 2022, par plus 10.5%
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| Initial index levels: | 4,297.50 for S&P, 14,554.80 for Nasdaq, 2,310.549 for Russell
|
| Buffer levels: | 85% of initial levels
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| Pricing date: | June 30
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| Settlement date: | July 6
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| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.6%
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| Cusip: | 40057HKU3
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