Published on 5/10/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.19 million autocallable index-linked notes on Dow, Nasdaq
By Kiku Steinfeld
Chicago, May 10 – GS Finance Corp. priced $1.19 million of 0% autocallable index-linked notes due Oct. 10, 2023 tied to the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its initial level on Sept. 30, 2022, the notes will be called at $1,090 per each $1,000 face value of notes.
If the notes are not called and each index finishes at or above its initial level, the payout will be 1.25 times the gain of the least performer.
If the worst performer declines but finishes at or above 85% of its initial level, the payout will be par.
If either index falls by more than 15%, investors will be exposed to any losses of the lesser-performing index beyond the 15% buffer.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Autocallable index-linked notes
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Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index
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Amount: | $1,193,000
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Maturity: | Oct. 10, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the notes are not called and each index finishes at or above its initial level, 1.25 times the gain of the least performer; if worst performer declines but finishes at or above 85% of initial level, par; if any index falls by more than 15%, investors will be exposed to any losses of the lesser-performing index beyond the 15% buffer
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Call: | If each index closes at or above initial level on Sept. 30, 2022, $1,090 per $1,000 note
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Initial index levels: | 33,843.92 for Dow, 14,689.62 for Nasdaq
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Buffer levels: | 85% of initial levels
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Pricing date: | Sept. 30, 2021
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Settlement date: | Oct. 5, 2021
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.56%
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Cusip: | 40057JFF8
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