By William Gullotti
Buffalo, N.Y., April 4 – GS Finance Corp. priced $8.79 million of contingent income autocallable securities due May 3, 2024 linked to Wells Fargo & Co. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of 10% per year if the underlying stock closes at or above its 80% downside threshold on any quarterly observation date.
If the underlying stock closes at or above its initial price on any of the quarterly determination dates, the securities will be redeemed at par plus the contingent payment.
If the underlying stock finishes at or above the downside threshold level, the payout at maturity will be par plus the contingent quarterly payment.
Otherwise, investors will be fully exposed to any losses.
The notes are guaranteed by Goldman Sachs Group, Inc.
The agent is Goldman Sachs & Co. LLC.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Contingent income auto-callable securities
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Underlying stock: | Wells Fargo & Co.
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Amount: | $8,789,540
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Maturity: | May 3, 2024
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Coupon: | 10% annual rate, payable quarterly if stock closes at or above downside threshold on review date for that quarter
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Price: | Par of $10
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Payout at maturity: | Par plus contingent coupon if underlying stock finishes at or above downside threshold; otherwise, full exposure to any losses
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Call: | At par plus contingent payment if underlying stock closes at or above initial share price on any determination date
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Initial share price: | $45.05
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Downside threshold level: | $36.04; 80% of initial price
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Pricing date: | April 30, 2021
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Settlement date: | May 5, 2021
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 2.5%
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Cusip: | 36260W512
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