By Sarah Lizee
Olympia, Wash., April 22 – GS Finance Corp. priced $7.09 million of 0% autocallable ETF-linked notes due April 23, 2025 tied to the SPDR S&P Biotech ETF and the SPDR S&P Oil & Gas Exploration & Production ETF, 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 20% per year if each ETF closes at or above its initial level on any semiannual call date, starting April 16, 2021.
If each ETF finishes at or above its initial level, the payout will be $2,000 per $1,000 of notes.
If either ETF falls by up to 25%, the payout will be par.
If either ETF falls by more than 25%, investors will be exposed to the lesser performing ETF’s decline beyond 25%.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable ETF-linked notes
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| Underlying ETFs: | SPDR S&P Biotech ETF and SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $7,088,000
|
| Maturity: | April 23, 2025
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each ETF finishes at or above its initial level, $2,000 per $1,000 of notes; if either ETF falls by up to 25%, par; if either ETF falls by more than 25%, investors will be exposed to the lesser performing ETF’s decline beyond 25%
|
| Call: | At par plus 20% per year if each ETF closes at or above its initial level on any semiannual call date, starting April 16, 2021
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| Initial levels: | $86.77 for biotech ETF, $38.47 for oil ETF
|
| Buffer levels: | 75% of initial levels
|
| Pricing date: | April 16
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| Settlement date: | April 21
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 4.6%
|
| Cusip: | 40056XRF5
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