Published on 1/4/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $3.9 million callable contingent coupon notes on S&P, Russell, Dow
By Kiku Steinfeld
Chicago, Jan. 4 – GS Finance Corp. priced $3.9 million of callable contingent coupon index-linked notes due Dec. 28, 2026 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.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent semiannual coupon at an annual rate of 4.9% if each index closes at or above the coupon trigger level, 55% of the initial level, on the valuation date for that period.
The notes may be called at par plus any coupon due on any semiannual call observation date.
If the notes are not called and each index finishes at or above its coupon trigger level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon index-linked notes
|
| Underlying indexes: | S&P 500 index, Russell 2000 index, Dow Jones industrial average
|
| Amount: | $3,895,000
|
| Maturity: | Dec. 28, 2026
|
| Coupon: | 4.9% annualized rate, payable semiannually if each index closes at or above coupon trigger level, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If all indexes finish at or above coupon trigger level, par plus final coupon; otherwise, lose 1% for every 1% decline of worst performer from initial level
|
| Call: | At par plus any coupon due on any semiannual call observation date
|
| Initial index levels: | 4,696.56 for S&P, 2,221.903 for Russell, 35,753.89 for Dow
|
| Trigger levels: | 55% of initial levels
|
| Coupon trigger levels: | 55% of initial levels
|
| Pricing date: | Dec. 22
|
| Settlement date: | Dec. 28
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0%
|
| Cusip: | 40057KF40
|
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