Published on 3/26/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $6.47 million trigger autocallable contingent yield notes on indexes
By Taylor Fox
New York, March 26 – GS Finance Corp. priced $6.47 million of trigger autocallable contingent yield notes due March 15, 2024 linked to the Russell 2000 Value index and the Euro Stoxx 50 index, 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 quarterly coupon at an annual rate of 8.95% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par of $10 if each index closes at or above its initial level on any observation date after six months.
The payout at maturity will be par plus any coupon due unless either index finishes below the 70% downside threshold level, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
UBS Financial Services Inc. and Goldman Sachs & Co. LLC are the agents.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Russell 2000 Value index and the Euro Stoxx 50 index
|
| Amount: | $6,472,000
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| Maturity: | March 15, 2024
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| Coupon: | 8.95% annual rate, payable quarterly if each index closes at or above coupon barrier level on observation date
|
| Price: | Par of $10
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any observation date after six months
|
| Payout at maturity: | Par plus any coupon unless index closes below downside threshold level, in which case 1% loss for each 1% decline of worse performing index from initial level
|
| Initial levels: | 2,532.815 for Russell and 3,833.36 for Stoxx
|
| Coupon barriers: | 1,772.971 for Russell and 2,683.352 for Stoxx, 70% of initial levels
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| Downside thresholds: | 1,772.971 for Russell and 2,683.352 for Stoxx, 70% of initial levels
|
| Pricing date: | March 12
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| Settlement date: | March 17
|
| Agents: | UBS Financial Services Inc. and Goldman Sachs & Co. LLC
|
| Fees: | 0.175%
|
| Cusip: | 36259Y750
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