Published on 9/1/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $15.13 million contingent income autocalls on Nasdaq, S&P, Russell
By Taylor Fox
New York, Sept. 1 – GS Finance Corp. sold $15.13 million of contingent income autocallable securities due Feb. 29, 2024 tied to the worst performing of the Russell 2000 index, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 8% per year if each index closes at or above its coupon threshold level, 70% of its initial level, on the related determination date.
The notes will be automatically called at par plus the coupon if each index closes at or above its initial level on any quarterly redemption determination date.
The payout at maturity will be par plus the coupon unless any index finishes below its 70% downside threshold, in which case investors will be fully exposed to the performance of the least performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent with Morgan Stanley Wealth Management as dealer.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Contingent income autocallable securities
|
| Underlying indexes: | Russell 2000 index, S&P 500 index and Nasdaq-100 index
|
| Amount: | $15,132,000
|
| Maturity: | Feb. 29, 2024
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| Coupon: | 8% per year, payable each quarter if each index closes at or above its coupon threshold level on the related determination date
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless any index finishes below its downside threshold, in which case investors will be fully exposed to the performance of the least performing index
|
| Call: | Automatically at par plus coupon if each index closes at or above initial level on any quarterly redemption determination date
|
| Initial levels: | 3,811.15 for S&P, 2,201.051 for Russell and 12,909.44 for Nasdaq
|
| Coupon threshold levels: | 2,667.805 for S&P, 1,540.7357 for Russell and 9,036.608 for Nasdaq; 70% of initial levels
|
| Downside thresholds: | 2,667.805 for S&P, 1,540.7357 for Russell and 9,036.608 for Nasdaq; 70% of initial levels
|
| Pricing date: | Feb. 26
|
| Settlement date: | March 3
|
| Agent: | Goldman Sachs & Co.
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.675%
|
| Cusip: | 40057FK45
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