Published on 4/4/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $5.18 million autocallable index-linked notes on Russell, S&P
By William Gullotti
Buffalo, N.Y., April 4 – GS Finance Corp. priced $5.18 million of 0% autocallable index-linked notes due Nov. 3, 2022 tied to 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 any semiannual call observation date, the notes will be called at par plus an annualized premium of 9.35%.
If the notes are not called and each index finishes at or above its initial level, the payout will be $1,140.25 per note.
If the worst performer finishes above 80% of its initial level, the payout will be par.
If any index falls by more than 20%, investors will lose 1.25% for each 1% loss of the lesser-performing index beyond the 20% buffer.
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: | S&P 500 index, Russell 2000 index
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| Amount: | $5,178,000
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| Maturity: | Nov. 3, 2022
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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, $1,140.25 per note; if worst performer finishes above 80% of initial level, par; if any index falls by more than 20%, investors will lose 1.25% for each 1% decline of worst performer beyond 20% buffer
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| Call: | If each index closes at or above initial level on any semiannual observation date, notes will be called at par plus an annualized premium of 9.35%
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| Initial index levels: | 4,181.17 for S&P, 2,266.449 for Russell
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| Buffer levels: | 80% of initial levels
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| Pricing date: | May 3, 2021
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| Settlement date: | May 6, 2021
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.2%
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| Cusip: | 40057HAM2
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