Published on 4/10/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.44 million autocallable index-linked notes on Russell, Nasdaq
By Kiku Steinfeld
Chicago, April 11 – GS Finance Corp. priced $1.44 million of 0% autocallable index-linked notes due Oct. 1, 2024 tied to the Nasdaq-100 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 Sept. 26, 2022, the notes will be called at par plus 8.3%.
If the notes are not called and each index finishes at or above its initial level, the payout will be par plus 125% of the laggard index’s return.
If the worst performer declines but finishes at or above 85% of its initial level, the payout will be par.
If any index falls by more than 15%, investors will lose 1% for every 1% decline of the worst performer beyond 15%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable index-linked notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index
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| Amount: | $1,442,000
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| Maturity: | Oct. 1, 2024
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| Coupon: | 0%
|
| 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, par plus 125% of the laggard index’s return; if worst performer finishes above 85% of initial level, par; otherwise, investors will lose 1% for every 1% decline of the worst performer beyond 15%
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| Call: | If each index closes at or above initial level on Sept. 26, 2022, notes will be called at par plus 8.3%
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| Initial index levels: | 15,329.68 for Nasdaq, 2,248.075 for Russell
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| Trigger buffer levels: | 85% of initial levels
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| Pricing date: | Sept. 24, 2021
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| Settlement date: | Sept. 29, 2021
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 3%
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| Cusip: | 40057JKK1
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