Published on 4/22/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $15.5 million autocallable jump securities tied to three indexes
Chicago, April 22 – GS Finance Corp. priced $15.5 million of 0% jump securities with autocallable feature due March 24, 2026 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
The notes will be called at par of $10 plus an annual premium of 12.9% if each index closes at or above its initial level on any quarterly call observation date after one year.
The payout at maturity will be par plus 64.5% if each index finishes at or above its initial level. If the worst performing index declines by no more than 20%, the payout will be par. If the worst performing index finishes below its 80% downside threshold level, investors will be fully exposed to the decline.
Goldman Sachs & Co. is the underwriter with Morgan Stanley Wealth Management as a dealer.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Jump securities with autocallable feature
|
| Underlying indexes: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
|
| Amount: | $15,499,640
|
| Maturity: | March 24, 2026
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Call: | At par plus 12.9% annual rate if each index closes above initial level on any quarterly review date after a year
|
| Payout at maturity: | Par plus 64.5% if each index finishes at or above its initial level; if the worst performing index declines by no more than 20%, par; if the worst performing index finishes below its downside threshold level, investors will be fully exposed to the decline
|
| Initial levels: | 3,913.10 for S&P, 2,287.545 for Russell and 3,837.02 for Stoxx
|
| Downside thresholds: | 3,130.48 for S&P, 1,830.036 for Russell and 3,069.616 for Stoxx; 80% of initial levels
|
| Pricing date: | March 19
|
| Settlement date: | March 24
|
| Agent: | Goldman Sachs & Co. with Morgan Stanley Wealth Management handling distribution
|
| Fees: | 3.85%
|
| Cusip: | 36259Y578
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
