Published on 1/9/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $199,000 autocallable index-linked notes on S&P, Russell
By Kiku Steinfeld
Chicago, Jan. 11 – GS Finance Corp. priced $199,000 of 0% autocallable index-linked notes due Jan. 9, 2023 tied to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically called at par plus an annualized premium of 11% if each index closes at or above its initial level on Jan. 6, 2022.
The payout at maturity will be par plus 1.25 times the return of the least performing index if both indexes close above their initial levels. The payout will be par if the least performing index finishes flat or falls by up to 10%. Investors will lose 1% for every 1% that the least performing index declines beyond 10%.
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: | Autocallable index-linked notes
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| Underlying indexes: | Russell 2000 index, S&P 500 index
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| Amount: | $199,000
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| Maturity: | Jan. 9, 2023
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| Coupon: | 0%
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| Price: | Par of $1,000
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| Call: | At par plus 11% annualized premium if both indexes close at or above of their initial levels on Jan. 6, 2022
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| Payout at maturity: | Par plus 1.25 times return of least performing index if both indexes close above initial levels; par if least performer finishes flat or falls by up to 10%; 1% loss for every 1% decline of least performing index beyond 10%
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| Initial levels: | 3,732.04 for S&P, 1,979.992 for Russell
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| Buffer levels: | 90% of initial levels
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| Pricing date: | Dec. 30
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| Settlement date: | Jan. 5
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.805%
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| Cusip: | 40057ESQ1
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