Published on 8/26/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.47 million autocallable underlier-linked notes on index, ETF
By Taylor Fox
New York, Aug. 26 – GS Finance Corp. priced $1.47 million of 0% autocallable underlier-linked notes due Feb. 26, 2025 linked to the Euro Stoxx 50 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically called at par plus a 10.5% annualized call premium if the lesser-performing asset closes at or above 95% of its initial level on any annual call date.
If the lesser-performing asset finishes at or above 95% of its initial level, the payout at maturity will be par plus 42%. If the lesser-performing asset falls between 5% and 30%, the payout will be par. Otherwise, investors will be exposed to the lesser-performing asset’s decline from its initial level.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable underlier-linked notes
|
| Underlying assets: | Euro Stoxx 50 index and the iShares MSCI Emerging Markets ETF
|
| Amount: | $1,466,000
|
| Maturity: | Feb. 26, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | Automatically at par plus a 10.5% annualized call premium if lesser-performing asset closes at or above 95% of its initial level on any annual call observation date
|
| Payout at maturity: | If the lesser-performing asset finishes at or above 95% of initial level, par plus 42%; if the lesser-performing asset falls more than 5% but not more than trigger buffer level, the payout will be par; otherwise, investors will be fully exposed to the lesser-performing asset’s decline from its initial level
|
| Initial levels: | 3,713.46 for index, $57.53 for fund
|
| Trigger buffer levels: | 70% of initial levels
|
| Pricing date: | Feb. 19
|
| Settlement date: | Feb. 24
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 2.3%
|
| Cusip: | 40057FEW0
|
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