Published on 5/19/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $975,000 autocallable index-linked notes on S&P 500
By William Gullotti
Buffalo, N.Y., May 19 – GS Finance Corp. priced $975,000 of 0% autocallable index-linked notes due April 11, 2023 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be called at $1,075 per $1,000 of notes if the index closes at or above its initial level on April 22, 2022.
If the notes are not called, the payout at maturity will be par plus twice the index return if the index finishes at or above its initial level.
If the index return is negative but not less than negative 15%, the payout will be par; otherwise, investors will be fully exposed to the losses of the index.
Goldman Sachs & Co. LLC is the underwriter. JPMorgan is acting as placement 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 index: | S&P 500
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Amount: | $975,000
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Maturity: | April 11, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index finishes at or above its initial level, par plus twice the index return; if the index return is negative but not less than negative 15%, par; otherwise, full exposure to the losses of the index
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Call: | At $1,075 per $1,000 of notes if index closes at or above initial level on April 22, 2022
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Initial level: | 4,128.8
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Barrier level: | 85% of initial level
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Pricing date: | April 9
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Settlement date: | April 14
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Underwriter: | Goldman Sachs & Co. LLC
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Placement agent: | JPMorgan
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Fees: | 1.5%
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Cusip: | 40057FY99
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