Published on 9/29/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.91 million autocallable index-linked notes on Dow, S&P, Russell
By William Gullotti
Buffalo, N.Y., Sept. 29 – GS Finance Corp. priced $1.91 million of 0% autocallable index-linked notes due July 15, 2024 tied to the Dow Jones industrial average, the S&P 500 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 8, 2022, the notes will be called at par plus a 4.8% call premium.
If the notes are not called and each index finishes at or above its initial level, the payout will be par plus 1.5 times the return of the least performing index.
If the worst performer finishes above 60% of its initial level, the payout will be par.
If any index falls by more than 40%, investors will be exposed to the decline of the worst 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.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable index-linked notes
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| Underlying indexes: | Dow Jones industrial average, S&P 500 index, Russell 2000 index
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| Amount: | $1,905,000
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| Maturity: | July 15, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the notes are not called and each index finishes at or above its initial level, par plus 1.5 times the return of the least performing index; if worst performer finishes at or above 60% of initial level, par; if any index falls by more than 40%, investors will be exposed to the decline of the worst performing index from its initial level
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| Call: | If each index closes at or above initial level on July 8, 2022, notes will be called at par plus a 4.8% call premium
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| Initial index levels: | 34,421.93 for Dow, 4,320.82 for S&P, 2,231.677 for Russell
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| Trigger buffer levels: | 60% of initial levels
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| Pricing date: | July 8
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| Settlement date: | July 13
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 3%
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| Cusip: | 40057HU40
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