Published on 2/23/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.12 million autocallable underlier-linked notes on indexes, ETF
By William Gullotti
Buffalo, N.Y., Feb. 23 – GS Finance Corp. priced $1.12 million of 0% autocallable underlier-linked notes due Sept. 16, 2026 linked to the Russell 2000 index, the S&P 500 index and the ARK Innovation ETF, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically called at par plus a 9.6% call premium if the lesser-performing underlier closes at or above its initial level on any annual call observation date.
If the lesser-performing underlier finishes at or above its initial level, the payout at maturity will be par plus 48%.
If the worst performer falls by up to 40%, the payout will be par. Otherwise, investors will be exposed to the worst performer’s decline from its initial level.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable underlier-linked notes
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| Underlying assets: | Russell 2000 index, S&P 500 index, ARK Innovation ETF
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| Amount: | $1,119,000
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| Maturity: | Sept. 16, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the lesser-performing underlier finishes at or above initial level, par plus 48%; if the worst performer declines by up to 40%, par; otherwise, investors will be fully exposed to the worst performer’s decline from its initial level
|
| Call: | Automatically at par plus a 9.6% call premium if lesser-performing underlier closes at or above initial level on any annual call observation date
|
| Initial levels: | 2,249.129 for Russell, 4,493.28 for S&P, $121.71 for ETF
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| Trigger buffer levels: | 60% of initial levels
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| Pricing date: | Sept. 9, 2021
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| Settlement date: | Sept. 14, 2021
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 4.375%
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| Cusip: | 40057JJ23
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