Published on 3/17/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $2.72 million step down trigger autocalls on Nasdaq, Russell Value
By William Gullotti
Buffalo, N.Y., March 17 – GS Finance Corp. priced $2.72 million of 0% step down trigger autocallable notes due March 16, 2027 linked to the least performing of the Russell 2000 Value index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 9.6% if each index closes at or above its initial level on any annual review date.
If the notes are not called and each index finishes at or above the 65% downside threshold, the payout at maturity will be par plus 48%. Otherwise, investors will be fully exposed to the decline of the worst performing index from its initial level.
The guarantor is Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter with UBS Financial Services Inc. as the selling agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Step down trigger autocallable notes
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| Underlying indexes: | Nasdaq-100 index, MSCI EAFE index, Russell 2000 Value index
|
| Amount: | $2,716,100
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| Maturity: | March 16, 2027
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If each index finishes at or above the 65% downside threshold, par plus 48%; otherwise, 1% loss for each 1% decline of worst performing index from initial level
|
| Call: | At par plus 9.6% per year if each index closes at or above its initial level on any annual observation date
|
| Initial levels: | 13,301.83 for Nasdaq, 2,351.18 for Russell Value
|
| Downside thresholds: | 8,646.19 for Nasdaq, 1,528.267 for Russell Value; 65% of initial levels
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| Pricing date: | March 11
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| Settlement date: | March 16
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| Underwriter: | Goldman Sachs & Co. LLC
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| Selling agent: | UBS Financial Services Inc.
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| Fees: | None
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| Cusip: | 36264H198
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