Published on 9/6/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.31 million autocallable contingent coupon notes on Dow, Russell, Nasdaq
By Kiku Steinfeld
Chicago, Sept. 6 – GS Finance Corp. priced $1.31 million of autocallable contingent coupon notes due Nov. 1, 2023 linked to the worst performing of the Dow Jones industrial average, 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 7.2% per annum if each index closes at or above its 70% 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 monthly determination date after six months.
The payout at maturity will be par if no index ever closes below its 60% trigger level during the life of the notes. Alternatively, investors will receive par if all indexes finish above their initial levels. 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.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
|
| Amount: | $1,312,000
|
| Maturity: | Nov. 1, 2023
|
| Contingent coupon: | 7.2%annualized, payable monthly if each index closes at or above coupon barrier level on the determination date for that period
|
| Price: | Par
|
| Payout at maturity: | Par if no index closes below trigger level during life of notes; par if all indexes finish above initial levels; otherwise, full exposure to losses of worst performer
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any monthly determination date after six months
|
| Initial levels: | 34,297.73 for Dow, 2,004.033 for Russell, 14,149.12 for Nasdaq
|
| Coupon barriers: | 70% of initial levels
|
| Trigger levels: | 60% of initial levels
|
| Pricing date: | Jan. 25, 2022
|
| Settlement date: | Jan. 28, 2022
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 2.225%
|
| Cusip: | 40057KUD3
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
