Published on 6/13/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $707,000 autocallable index-linked notes on S&P, Russell, Nasdaq
Chicago, June 13 – GS Finance Corp. priced $707,000 of 0% autocallable index-linked notes due Sept. 7, 2023 tied to the Nasdaq-100 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its initial level on any quarterly call observation starting after six months, the notes will be called at par plus a premium based on an annualized 11.5% rate.
If the notes are not called and each index finishes at or above its initial level, the payout will be par plus the return of the worst performer.
If any index declines when measured on the maturity date but no index ever closes below its 60% trigger buffer level, the payout at maturity will be par.
Otherwise, investors will be fully exposed to the losses of the worst performer.
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: | Nasdaq-100 index, S&P 500 index and Russell 2000 index
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| Amount: | $707,000
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| Maturity: | Sept. 7, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus return of worst performer if all three indexes finish above initial levels; par if the final index level of any index is less than its initial level and no index ever closes below its trigger buffer level during the life of the notes; otherwise, full exposure to losses of worst performer
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| Call: | Automatically at par plus 11.5% annualized rate if all indexes finish above initial levels on any quarterly call observation date starting after six months
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| Initial index levels: | 16,135.92 for Nasdaq, 4,567 for S&P, 2,198.908 for Russell
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| Trigger buffer levels: | 60% of initial levels
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| Pricing date: | Nov. 30, 2021
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| Settlement date: | Dec. 3, 2021
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 2.225%
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| Cusip: | 40057KCC5
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