By William Gullotti
Buffalo, N.Y., Feb. 10 – GS Finance Corp. priced $395,000 of autocallable contingent coupon ETF-linked notes due Oct. 26, 2022 tied to the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent monthly coupon at an annual rate of 9% if the ETF closes at or above the coupon trigger level, 70% of the initial level, on the valuation date for that period.
The notes will be called at par plus a coupon if the ETF closes at or above its initial level on any monthly call observation date after three months.
If the notes are not called and the ETF closes at or above 70% of initial value, the payout will be par plus coupon.
If the ETF falls by more than 30%, investors will be fully exposed to any losses.
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 contingent coupon ETF-linked notes
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Underlying ETF: | VanEck Vectors Gold Miners ETF
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Amount: | $395,000
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Maturity: | Oct. 26, 2022
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Coupon: | 9% annualized rate, payable monthly if the ETF closes at or above coupon trigger level, on valuation date for that period
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Price: | Par
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Payout at maturity: | If the ETF finishes at or above trigger buffer level, par plus coupon; if the ETF falls by more than 30%, full exposure to losses
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Call: | At par plus coupon if the ETF closes at or above its initial level on any monthly call observation date after three months
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Initial ETF level: | $35.79
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Trigger buffer level: | 70% of initial level
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Coupon trigger level: | 70% of initial level
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Pricing date: | April 19, 2021
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Settlement date: | April 22, 2021
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.38%
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Cusip: | 40057FZZ0
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