Chicago, Feb. 1 – GS Finance Corp. priced $1.9 million of 0% autocallable ETF-linked notes due April 14, 2026 tied to the ARK Innovation ETF, the iShares MSCI Emerging Markets ETF and the VanEck Vectors Junior Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If all three ETFs closes at or above 90% of their initial levels on any quarterly call observation date after one year, the notes will be called at par plus an 16.35% annualized call premium.
If the notes are not called and the ETFs finish at or above 90% of their initial levels, the payout will be par plus the maturity date premium of 81.75%.
If the worst-performing ETF declines beyond 10% of but finishes at or above 60% of its initial level, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the worst-performing ETF from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
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 ETF-linked notes
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Underlying funds: | ARK Innovation ETF, iShares MSCI Emerging Markets ETF and VanEck Vectors Junior Gold Miners ETF
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Amount: | $1,903,000
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Maturity: | April 14, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the notes are not called and each ETF finishes at or above 90% of its initial level, par plus 81.75%; if the worst-performing ETF declines beyond 10% but finishes above trigger buffer level, par; otherwise, 1% loss for every 1% decline of worst performer from initial level
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Call: | Automatically if each ETF closes at or above 90% of initial levels on any quarterly call observation date after one year, par plus 16.35% annualized call premium
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Initial levels: | $120.82 for ARK, $53.57 for EM, $47.19 for VanEck
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Trigger buffer levels: | 60% of initial levels
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Pricing date: | April 7
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Settlement date: | April 12
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 4.375%
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Cusip: | 40057FW34
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