Published on 4/21/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $1.49 million autocallable index-linked notes on S&P, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, April 21 – GS Finance Corp. priced $1.49 million of 0% autocallable index-linked notes due April 26, 2027 tied to the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its initial level on Oct. 18, 2024, the notes will be called at par plus a 25% call premium.
If the notes are not called and each index finishes at or above its initial level, the payout will be par plus 2 times the return of the laggard index.
If the worst performer declines but finishes at or above 70% of its initial level, the payout will be par.
If any index falls by more than 20%, investors will be exposed to the decline of the worst performing index from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
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 index-linked notes
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Underlying indexes: | S&P 500 index, Nasdaq-100 index
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Amount: | $1,492,000
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Maturity: | April 26, 2027
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Coupon: | 0%
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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 2 times the return of the laggard index; if worst performer finishes above 70% of initial level, par; otherwise, investors will be exposed to the decline of the worst performing index from its initial level
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Call: | If each index closes at or above 110% of initial level on Oct. 18, 2024, notes will be called at par plus a 25% call premium
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Initial index levels: | 4,391.69 for S&P, 13,910.76 for Nasdaq
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Trigger buffer levels: | 70% of initial levels
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Pricing date: | April 18
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Settlement date: | April 21
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 4.125%
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Cusip: | 40057LS28
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