Published on 7/6/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $500,000 autocallable contingent coupon notes on Stoxx, Russell
By Kiku Steinfeld
Chicago, July 6 – GS Finance Corp. priced $500,000 of autocallable contingent coupon notes due Dec. 31, 2024 linked to the Euro Stoxx 50 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 a yearly rate of 6.9% if each index closes at or above its 70% coupon trigger level on the observation 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 coupon observation date after six months.
The payout at maturity will be par unless either index finishes below 70% of its initial level, in which case investors will be fully exposed to the decline of the least performing index from its initial level.
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: | Euro Stoxx 50, Russell 2000
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Amount: | $500,000
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Maturity: | Dec. 31, 2024
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Contingent coupon: | 6.9% per year, payable quarterly if each index closes at or above 70% coupon trigger level on observation date for quarter
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Price: | Par
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Payout at maturity: | Par unless either index finishes below 70% of its initial level, in which case investors will be fully exposed to the decline of the least performing index from its initial level
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Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any coupon observation date after six months
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Initial index levels: | 2,221.903 for Russell, 4,217.06 for Stoxx
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Coupon trigger levels: | 70% of initial levels
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Trigger buffer level: | 70% of initial levels
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Pricing date: | Dec. 22, 2021
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Settlement date: | Dec. 28, 2021
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 2%
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Cusip: | 40057KKG7
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