Published on 2/19/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $5.35 million step down trigger autocalls on S&P, Russell, Stoxx
By Kiku Steinfeld
Chicago, Feb. 19 – GS Finance Corp. priced $5.35 million of 0% step down trigger autocallable notes due Feb. 8, 2024 linked to the least performing of the Russell 2000 index, the Euro Stoxx 50 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 9.05% if each index closes at or above its initial level on any quarterly review date after one year.
If the notes are not called, the payout at maturity will be par plus 27.15% unless any index closes below its 70% downside threshold, in which case investors will be fully exposed to any losses of the worse performing index.
The guarantor is Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter with UBS Financial Services Inc. as the selling agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Step down trigger autocallable notes
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Underlying indexes: | S&P 500 index, Euro Stoxx 50 index, Russell 2000 index
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Amount: | $5,350,000
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Maturity: | Feb. 8, 2024
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If each index finishes at or above 70% downside threshold, par plus 27.15%; otherwise, 1% loss for each 1% decline of worst performing index
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Call: | At par plus 9.05% per year if each index closes at or above its call threshold level on any quarterly observation date after one year
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Initial levels: | 3,871.74 for S&P, 3,642.12 for Stoxx, 2,202.418 for Russell
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Downside thresholds: | 2,710.218 for S&P, 2,549.484 Stoxx, 1,541.693 for Russell;70% of initial levels
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Pricing date: | Feb. 4
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Settlement date: | Feb. 9
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Agent: | Goldman Sachs & Co. LLC
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Underwriter: | UBS Financial Services Inc.
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Fees: | 1.675%
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Cusip: | 36259U733
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