Published on 11/3/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $5.5 million autocallable underlier-linked notes on indexes, ETF
By William Gullotti
Buffalo, N.Y., Nov. 3 – GS Finance Corp. priced $5.5 million of 0% autocallable underlier-linked notes due Nov. 3, 2026 linked to the S&P 500 index, 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 10.2% annualized call premium if the least performing underlier closes at or above its initial level on any quarterly evaluation date after six months.
If the least performing underlier finishes at or above its initial level, the payout at maturity will be par plus 51%.
If the worst performer falls by up to 25%, the payout will be par. Otherwise, investors will be exposed to the worst performer’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: | S&P 500 index, Euro Stoxx 50 index, iShares MSCI Emerging Markets ETF
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| Amount: | $5.5 million
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| Maturity: | Nov. 3, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the least performing underlier finishes at or above initial level, par plus 51%; if the worst performer declines by up to 25%, par; otherwise, investors will be fully exposed to the worst performer’s decline from its initial level
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| Call: | Automatically at par plus a 10.2% annualized call premium if least performing underlier closes at or above initial level on any quarterly evaluation date after six months
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| Initial levels: | 4,551.68 for S&P, 4,220.88 for Stoxx, $51.62 for EM ETF
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| Trigger buffer levels: | 75% of initial levels
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| Pricing date: | Oct. 27
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| Settlement date: | Oct. 29
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 2.95%
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| Cusip: | 40057JWE2
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