Published on 8/6/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.49 million autocallable underlier-linked notes on index, ETF
By Wendy Van Sickle
Columbus, Ohio, Aug. 6 – GS Finance Corp. priced $1.49 million of 0% autocallable underlier-linked notes due June 8, 2023 linked to the Euro Stoxx 50 index and the iShares MSCI EAFE 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 underlier closes at or above its initial level on any semiannual call date.
If the lesser-performing underlier finishes at or above its initial level, the payout at maturity will be par plus 23%. If the lesser-performing underlier falls but finishes at or above its 75% trigger buffer, the payout at maturity will be par. Otherwise, investors will be exposed to the lesser-performing underlier’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, iShares MSCI EAFE ETF
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| Amount: | $1,492,000
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| Maturity: | June 8, 2023
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| Coupon: | 0%
|
| Price: | Par
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| Call: | Automatically at par plus a 11.5% annualized call premium if lesser-performing underlier closes at or above initial level on any semiannual call observation date
|
| Payout at maturity: | If the lesser-performing underlier finishes at or above initial level, par plus 23%; if the lesser-performing underlier declines but finishes at or above trigger level, par; otherwise investors will lose 1% for every 1% the worst performer declines from initial level
|
| Initial levels: | 4,089.38 for index, $55.99 for fund
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| Trigger buffer level: | 75% of initial level
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| Pricing date: | June 4
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| Settlement date: | June 9
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 1.75%
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| Cusip: | 40057HJN1
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