Published on 2/18/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.35 million autocallable index-linked notes on Nasdaq, Russell
By Taylor Fox
New York, Feb. 18 – GS Finance Corp. priced $1.35 million of 0% autocallable index-linked notes due Feb. 2, 2024 tied to the least performing of the Russell 2000 index and the Nasdaq-100 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 7% if each index closes above its initial level on any semiannual call date starting after one year.
The payout at maturity will be par plus 1.25 times the return if both indexes finish at or above their initial levels. The payout will be par if the least performing index falls by up to 15%. Otherwise, investors will lose 1% for every 1% that the least performing index declines beyond the 15% buffer.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable index-linked notes
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index
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| Amount: | $1,353,000
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| Maturity: | Feb. 2, 2024
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| Coupon: | 0%
|
| Price: | Par
|
| Call: | At par plus 7% annualized premium if both indexes close above initial level on any semiannual call date starting after one year
|
| Payout at maturity: | Par plus 1.25 times the return if both indexes finish at or above initial level; par if least performing index falls by up to 15%; otherwise, 1% loss for every 1% decline of least performing index beyond buffer
|
| Initial levels: | 13,490.19 for Nasdaq, 2,149.856 for Russell
|
| Buffer levels: | 85% of initial levels
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| Pricing date: | Jan. 26
|
| Settlement date: | Jan. 29
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 3.25%
|
| Cusip: | 40057EZ67
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