Published on 12/28/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $11 million step-down trigger autocalls on indexes
Chicago, Dec. 29 – GS Finance Corp. priced $10 million of 0% step-down trigger autocallable notes due Dec. 27, 2024 linked to the lesser performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Starting Dec. 26, 2022, the notes will be automatically called at par of $10 plus a call premium of 10% per year if each index closes at or above its initial level on any quarterly observation date.
If the notes are not called and the final level of the worse performing index is greater than or equal to its downside threshold, 70% of its initial level, the payout will be $13 per $10 note. Otherwise, investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.
Goldman Sachs & Co. LLC and UBS Financial Services Inc. are the agents.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Step-down trigger autocallable notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Nasdaq-100 index
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| Amount: | $11 million
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| Maturity: | Dec. 27, 2024
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If final level of the worse performing index is greater than or equal to its downside threshold, $13 per $10 note; otherwise, 1% loss for each 1% decline of the lesser-performing index from its initial level
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| Call: | Starting Dec. 26, 2022, the notes will be automatically called at par of $10 plus a call premium of 10% per year if each index closes at or above its initial level on any quarterly observation date
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| Initial levels: | 4,568.02 for S&P, 2,139.875 for Russell and 15,627.64 for Nasdaq
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| Downside thresholds: | 3,426.015 for S&P, 1,604.906 for Russell and 11,720.730 for Nasdaq; 70% of initial levels
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| Pricing date: | Dec. 21
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| Settlement date: | Dec. 27
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| Agents: | Goldman Sachs & Co. LLC and UBS Financial Services Inc.
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| Fees: | 1%
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| Cusip: | 36261Y426
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