Published on 2/7/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.38 million autocallable index-linked notes on S&P, Russell
By Taylor Fox
New York, Feb. 8 – GS Finance Corp. priced $2.38 million of 0% autocallable index-linked notes due Jan. 15, 2026 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 annual call premium of 8.75% if each index closes at or above its initial level on an annual observation date.
The payout at maturity will be par plus 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 20%. Investors will lose 1% for every 1% that the least performing index declines from its initial level
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable index-linked notes
|
| Underlying indexes: | Russell 2000 index, S&P 500 index
|
| Amount: | $2,383,000
|
| Maturity: | Jan. 15, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | At par plus 8.75% annual premium if both indexes close at or above of their initial levels on an annual observation date
|
| Payout at maturity: | Par plus return of least performing index if both indexes close above initial levels; par if least performer finishes flat or falls by up to 20%; otherwise, 1% loss for every 1% decline of least performing index
|
| Initial levels: | 3,824.68 for S&P, 2,091.659 for Russell
|
| Trigger buffer level: | 80% of initial levels
|
| Pricing date: | Jan. 8
|
| Settlement date: | Jan. 13
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 4.45%
|
| Cusip: | 40057EZT7
|
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