By William Gullotti
Buffalo, N.Y., April 4 – GS Finance Corp. priced $1 million of autocallable contingent coupon index-linked notes due May 7, 2026 tied to 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 quarterly coupon at an annual rate of 6% if each index closes at or above the coupon trigger level, 80% of the initial level, on the valuation date for that period.
The notes will be called at par plus a coupon if each index closes at or above its initial index level on any quarterly call observation date after one year.
If the notes are not called and each index closes at or above 85% of initial value, the payout will be par.
If any index falls by more than 15%, investors will be exposed to any losses of the least-performing index beyond the buffer. Investors will receive the coupon if applicable.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon index-linked notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index
|
| Amount: | $1,000,000
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| Maturity: | May 7, 2026
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| Coupon: | 6% annualized rate, payable quarterly if each index closes at or above coupon trigger level, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above buffer level, par; if any index falls by more than buffer level, exposure to losses beyond buffer and coupon if applicable
|
| Call: | At par plus coupon if each index closes at or above its initial level on any quarterly call observation date after one year
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| Initial index levels: | 4,181.17 for S&P, 2,266.449 for Russell
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| Coupon trigger level: | 80% of initial levels
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| Buffer level: | 85% of initial levels
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| Pricing date: | April 30, 2021
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| Settlement date: | May 5, 2021
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 40057H5N6
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