Published on 5/31/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $840,000 autocallable index-linked notes on Dow, Nasdaq
By Kiku Steinfeld
Chicago, May 31 – GS Finance Corp. priced $840,000 of 0% autocallable index-linked notes due Nov. 6, 2023 tied to the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its initial level on the Oct. 31, 2022 call observation date, the notes will be called at par plus 9.5%.
If the notes are not called and each index finishes at or above its initial level, the payout will be par plus 1.25 times the lesser performing index return.
If the worst performer finishes at or above 85% of its initial level, the payout will be par.
If either index falls by more than 15%, investors will be exposed to any losses of the lesser-performing index beyond the 15% buffer.
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 index-linked notes
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Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index
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Amount: | $840,000
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Maturity: | Nov. 6, 2023
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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 index finishes at or above its initial level, par plus 1.25 times the lesser performing index return; if worst performer finishes at or above 85% of initial level, par; if either index falls by more than 15%, investors will be exposed to any losses of the lesser-performing index beyond the 15% buffer
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Call: | If each index closes at or above initial level on Oct. 31, 2022, par plus 9.5%
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Initial index levels: | 35,819.56 for Dow and 15,850.47 for Nasdaq
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Buffer levels: | 85% of initial levels
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Pricing date: | Oct. 29, 2021
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Settlement date: | Nov. 3, 2021
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.56%
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Cusip: | 40057JP67
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