Published on 3/7/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $7.87 million jump securities with autocallable feature on indexes
By William Gullotti
Buffalo, N.Y., March 7 – GS Finance Corp. priced $7.87 million of 0% jump securities with autocallable feature due March 4, 2027 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 13% per year if each index closes at or above its initial level on any quarterly determination date after one year.
If the final level of each index is greater than or equal to its initial level, the payout at maturity will be par of $10 plus 65%.
If the final level of any index is less than its initial level but the final level of each index is greater than or equal to its 80% downside threshold level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent with Morgan Stanley Wealth Management as a dealer.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Jump securities with autocallable feature
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Underlying indexes: | Russell 2000 index, S&P 500 index, Euro Stoxx 50 index
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Amount: | $7,871,200
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Maturity: | March 4, 2027
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If final level of each index is greater than or equal to initial level, par plus 65%; if final level of any index is less than initial level but final level of each index is greater than or equal to downside threshold level, par; otherwise, 1% loss for every 1% that least-performing index declines from its initial level
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Call: | Automatically at par plus 13% per year if each index closes at or above initial level on any quarterly determination date after one year
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Initial levels: | 4,373.94 for S&P, 3,924.23 for Stoxx, 2,048.089 for Russell
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Downside thresholds: | 3,499.152 for S&P, 3,139.384 for Stoxx, 1,638.4712 for Russell; 80% of initial levels
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Pricing date: | Feb. 28
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Settlement date: | March 3
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Agent: | Goldman Sachs & Co. LLC with Morgan Stanley Wealth Management as a dealer
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Fees: | 3.5%
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Cusip: | 36262Y599
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