Published on 6/14/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.14 million callable contingent coupon index-linked notes
Chicago, June 14 – GS Finance Corp. priced $1.14 million of callable contingent coupon index-linked notes due Dec. 7, 2026 tied to the Euro Stoxx Banks index, the Dow Jones industrial average and the Russell 2000 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 7.5% if each index closes at or above the coupon trigger level, 70% of the initial level, on a related observation date.
The notes may be called at par plus any coupon due on any quarterly call observation date after one year.
If the notes have not been called and each index finishes at or above its 60% trigger buffer level, the payout at maturity will be par plus any coupon due. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Callable contingent coupon index-linked notes
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| Underlying indexes: | Euro Stoxx Banks index, the Dow Jones industrial average and Russell 2000 index
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| Amount: | $1,142,000
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| Maturity: | Dec. 7, 2026
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| Coupon: | 7.5% annualized rate, payable quarterly if each index closes at or above coupon trigger level, on related observation period
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above its trigger buffer level, par plus any final coupon due; otherwise, 1% loss for every 1% decline of worst performer from initial level
|
| Call: | At par plus any coupon due on any quarterly call observation date after one year
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| Initial index levels: | 2,206.333 for Russell, 34,639.79 for Dow, 95.5 for Stoxx Banks
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| Trigger buffer levels: | 60% of initial levels
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| Coupon trigger levels: | 70% of initial levels
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| Pricing date: | Dec. 2, 2021
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| Settlement date: | Dec. 7, 2021
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 4.125%
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| Cusip: | 40057KCE1
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