Published on 3/16/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $9.89 million autocallable dual directional trigger PLUS linked to Nasdaq-100
By Wendy Van Sickle
Columbus, Ohio, March 16 – GS Finance Corp. priced $9.89 million of 0% autocallable dual directional trigger Performance Leveraged Upside Securities due March 14, 2024 linked to the Nasdaq-100 index, according to a 424B2 with the Securities and Exchange Commission.
The notes will be called at par plus 12% if the index closes at or above its initial level on March 20, 2023.
If the final index level is greater than or equal to the initial index level, the payout at maturity will be par of $10 plus 125% of the index return. If the index declines by 15% or less, the payout will be par plus the absolute value of the index return. If the index declines by more than 15%, investors will lose 1% for every 1% that the index declines from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent. Morgan Stanley Wealth Management is handling distribution.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable dual directional trigger Performance Leveraged Upside Securities
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| Underlying index: | Nasdaq-100
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| Amount: | $9,889,440
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| Maturity: | March 14, 2024
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| Coupon: | 0%
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| Price: | Par of $10
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| Call: | At par plus 12% if the index closes at or above its initial level on March 20, 2023
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| Payout at maturity: | If final index level is greater than initial index level, par plus 125% of index return; if final index level is less than initial index level but greater than or equal to trigger level, par plus absolute value of index return; if final index level is less than trigger level, 1% loss for every 1% that index declines from initial level
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| Initial index level: | 13,301.83
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| Trigger level: | 11,306.5555, 85% of initial level
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| Pricing date: | March 11
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| Settlement date: | March 16
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| Agent: | Goldman Sachs & Co. LLC
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| Distributor: | Morgan Stanley Wealth Management
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| Fees: | 2.5%
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| Cusip: | 46652Y789
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