Published on 10/21/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $4.28 million autocallable ETF-linked notes on silver, gold ETFs
By William Gullotti
Buffalo, N.Y., Oct. 21 – GS Finance Corp. priced $4.28 million of 0% autocallable ETF-linked notes due Oct. 17, 2024 tied to the iShares Silver Trust and the SPDR Gold Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically called at par plus a 30.5% call premium if each ETF closes at or above its initial value on Oct. 16, 2023.
If the return of each ETF is zero or positive, the payout at maturity will par plus 2.05 times the return of the lesser performing ETF.
If the worst performer falls by up to 20%, the payout will be par. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial value.
Goldman, Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable ETF-linked notes
|
| Underlying ETFs: | iShares Silver Trust, SPDR Gold Trust
|
| Amount: | $4,275,000
|
| Maturity: | Oct. 17, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the return of each fund is flat or positive, par plus 2.05 times laggard ETF return; if worst performer falls by up to 20%, par; otherwise, 1% loss for every 1% decline of worst performer from its initial value
|
| Call: | Automatically at par plus a 30.5% call premium if each ETF closes at or above its initial value on Oct. 16, 2023
|
| Initial values: | $17.4278 for silver, $155.4358 for gold
|
| Barrier levels: | 80% of initial levels
|
| Strike date: | Oct. 13
|
| Pricing date: | Oct. 14
|
| Settlement date: | Oct. 19
|
| Agent: | Goldman, Sachs & Co. LLC
|
| Fees: | None
|
| Cusip: | 40057NNU7
|
|
|
© 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.
