Published on 6/7/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $952,000 autocallable contingent coupon notes on indexes
Chicago, June 7 – GS Finance Corp. priced $952,000 of autocallable contingent coupon notes due Dec. 2, 2025 linked to the worst performing of the S&P 500 Value index, the Nasdaq-100 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 monthly coupon of 4.6% per annum if each index closes at or above its 75% coupon barrier level on the determination date for that period.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly determination date after one year.
The payout at maturity will be par if no index closes below 70% of its initial level. Otherwise, investors will lose 1% for each 1% decline of the least-performing index.
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 contingent coupon notes
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| Underlying indexes: | S&P 500 Value index, Nasdaq-100 index and Russell 2000 index
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| Amount: | $952,000
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| Maturity: | Dec. 2, 2025
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| Contingent coupon: | 4.6% annualized, payable monthly if each index closes at or above coupon barrier level on the determination date for that period
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| Price: | Par
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| Payout at maturity: | Par unless any index closes below trigger level, in which case full exposure to losses of worst performer
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| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly determination date after one year
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| Initial levels: | 1,502.76 for S&P Value, 16,380.98 for Nasdaq and 2,331.348 for Russell
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| Coupon barriers: | 75% of initial levels
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| Trigger levels: | 70% of initial levels
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| Pricing date: | Nov. 22, 2021
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| Settlement date: | Nov. 26, 2021
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 4%
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| Cusip: | 40057K6G3
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