Published on 7/14/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.63 million autocallable notes on index, ETF
By Kiku Steinfeld
Chicago, July 14 – GS Finance Corp. priced $1.63 million of 0% autocallable underlier-linked notes due June 4, 2024 linked to the Euro Stoxx 50 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically called at par plus a 11.5% annualized call premium if the lesser-performing asset closes at or above its initial level on any annual call date.
If the lesser-performing asset finishes at or above its initial level, the payout at maturity will be par plus 34.5%. If the lesser-performing asset falls by up to 20%, the payout will be par. Otherwise, investors will be exposed to the lesser-performing asset’s decline from its initial level.
Goldman Sachs & Co. LLC is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Autocallable underlier-linked notes
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Underlying assets: | Euro Stoxx 50 index and iShares MSCI Emerging Markets ETF
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Amount: | $1,626,000
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Maturity: | June 4, 2024
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Coupon: | 0%
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Price: | Par
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Call: | Automatically at par plus a 11.5% annualized call premium if lesser-performing asset closes at or above initial level on any annual call observation date
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Payout at maturity: | If the lesser-performing asset finishes at or above initial level, par plus 34.5%; if the lesser-performing asset falls by up to 20%, the payout will be par; otherwise, investors will be fully exposed to the lesser-performing asset’s decline from its initial level
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Initial levels: | 4,036.04 for index, $54.11 for ETF
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Trigger levels: | 80% of initial levels
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Pricing date: | May 25
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Settlement date: | May 28
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 3.2%
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Cusip: | 40057HCE8
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