Published on 8/26/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $5.74 million trigger contingent yield autocalls on Russell Value, Stoxx
By Taylor Fox
New York, Aug. 26 – GS Finance Corp. priced $5.74 million of trigger autocallable contingent yield notes due Feb. 24, 2031 linked to the Russell 2000 Value index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 6.11% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par of $10 if each index closes at or above its initial level on any observation date after one year.
The payout at maturity will be par plus any coupon due unless either index finishes below the 70% downside threshold level, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
UBS Financial Services Inc. and Goldman Sachs & Co. LLC are the agents.
Issuer: | GS Finance Corp.
|
Guarantor: | Goldman Sachs Group, Inc.
|
Issue: | Trigger autocallable contingent yield notes
|
Underlying indexes: | Russell 2000 Value index and the Euro Stoxx 50 index
|
Amount: | $5,741,750
|
Maturity: | Feb. 24, 2031
|
Coupon: | 6.11% annual rate, payable quarterly if each index closes at or above coupon barrier level on observation date
|
Price: | Par of $10
|
Call: | At par plus contingent coupon if each index closes at or above initial level on any observation date after one year
|
Payout at maturity: | Par plus any coupon unless either index closes below downside threshold level, in which case 1% loss for each 1% decline of worse performing index from initial level
|
Initial levels: | 2,276.682 for Russell and 3,713.46 for Stoxx
|
Coupon barrier levels: | 1,593.677 for Russell and 2,599.422 for Stoxx, 70% of initial levels
|
Downside thresholds: | 1,593.677 for Russell and 2,599.422 for Stoxx, 70% of initial levels
|
Pricing date: | Feb. 19
|
Settlement date: | Feb. 24
|
Agents: | UBS Financial Services Inc. and Goldman Sachs & Co. LLC
|
Fees: | 3.95%
|
Cusip: | 36259Y222
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.