Published on 9/3/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $5.7 million autocallable index-linked notes on three indexes
By Kiku Steinfeld
Chicago, Sept. 3 – GS Finance Corp. priced $5.7 million of 0% autocallable index-linked notes due May 23, 2024 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.
If each index closes at or above its initial level Sept. 1, 2022 or Feb. 21, 2023, the notes will be called at par plus an annualized rate of 2.48%.
If the notes are not called and each index finishes at or above 45% of its initial level, the payout will be par plus 4.96%.
If the worst performer finishes below 45% of its initial level, investors will be exposed to the losses of the lesser-performing index from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent and 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 index, Euro Stoxx 50 index, Russell 2000 index
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| Amount: | $5,696,000
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| Maturity: | Aug. 23, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the notes are not called and each index finishes at or above 45% of its initial level, par plus 4.96%; if worst performer finishes below 45% of initial level, investors will be exposed to losses of lesser-performing index from initial level
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| Call: | Automatically at par plus an annual rate of 2.48% if each index closes at or above its initial level on Sept. 1, 2022 or Feb. 21, 2023
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| Initial index levels: | 4,400.27 for S&P, 4,189.42 for Stoxx, 2,207.76 for Russell
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| Barrier levels: | 45% of initial levels
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| Pricing date: | Aug. 19
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| Settlement date: | Aug. 24
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| Agent: | Goldman Sachs & Co. LLC with JPMorgan as placement agent
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| Fees: | 1%
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| Cusip: | 40057JBR6
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