Published on 4/4/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $637,000 autocallable index-linked notes on Russell, S&P
By William Gullotti
Buffalo, N.Y., April 4 – GS Finance Corp. priced $637,000 of 0% autocallable index-linked notes due May 7, 2024 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 annual call observation date, the notes will be called at par plus an annualized 10% return.
If the notes are not called and each index finishes at or above its initial level, the payout will be $1,300 per note.
If the worst performer finishes above 65% of its initial level, the payout will be par.
If any index falls by more than 35%, investors will be fully exposed to any losses of the lesser-performing index from its initial level.
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: | $637,000
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| Maturity: | May 7, 2024
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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, $1,300 per note; if worst performer finishes above 65% of initial level, par; if any index falls by more than 35%, investors will be fully exposed to any losses of the lesser-performing index from its initial level
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| Call: | If each index closes at or above initial level on any annual observation date, notes will be called at par plus 10% annualized premium
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| Initial index levels: | 4,181.17 for S&P, 2,266.449 for Russell
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| Trigger buffer levels: | 65% 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: | 0.77%
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| Cusip: | 40057FV68
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