Published on 8/6/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $30.3 million autocallable index-linked notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Aug. 6 – GS Finance Corp. priced $30.3 million of 0% autocallable index-linked notes due Aug. 2, 2023 tied to the S&P 500 index, the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically called at par plus 2.45% annualized if each index closes at or above its initial level on Aug. 12, 2022 or Jan. 30, 2023.
If the notes are not called and each index closes at or above 45% of its initial level, the payout at maturity will be par plus 4.9%.
Otherwise, investors will be exposed to any losses of the least-performing index.
Goldman Sachs & Co. LLC is the agent. JPMorgan is the placement 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: | S&P 500, Euro Stoxx 50, Russell 2000
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Amount: | $30.3 million
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Maturity: | Aug. 2, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes at or above 45% of its initial level, par plus 4.9%; otherwise, full exposure to losses of the least-performing index
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Call: | At par plus 2.45% annualized if each index closes at or above its initial level on Aug. 12, 2022 or Jan. 30, 2023
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Initial index levels: | 2,226.246 for Russell, 4,395.26 for S&P, 4,089.3 for Stoxx
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Barrier levels: | 45% of initial index levels
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Pricing date: | July 30
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Settlement date: | Aug. 4
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Agent: | Goldman Sachs & Co. LLC
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Placement agent: | JPMorgan
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Fees: | 1%
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Cusip: | 40057J4Y9
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