Published on 7/15/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $2.19 million 7.4% autocallable fixed-coupon notes on Nasdaq, Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, July 15 – GS Finance Corp. priced $2.19 million 7.4% autocallable fixed-coupon notes due Jan. 12, 2024 linked to the least performing of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Interest is payable quarterly.
The notes will be automatically called at par plus the coupon if each index closes at or above its initial level on any quarterly call observation date after six months.
If the notes are not subject to an automatic call, the payout at maturity will be par unless any index finishes below 60% of its initial level, in which case investors will lose 1% for every 1% decline of the least performing index from its initial level.
Goldman Sachs & Co. LLC is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Autocallable fixed-coupon notes
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Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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Amount: | $2,185,000
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Maturity: | Jan. 12, 2024
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Coupon: | 7.4%, payable quarterly
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Price: | Par
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Call: | At par plus the coupon if each index closes at or above its initial level on any quarterly call observation date after six months
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Payout at maturity: | If the notes are not subject to an automatic call, the payout at maturity will be par unless any index finishes below its barrier level, in which case investors will lose 1% for every 1% decline of the least performing index from its initial level
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Initial levels: | 3,818.8 for S&P, 11,744.99 for Nasdaq and 1,728.182 for Russell
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Barrier levels: | 60% of initial levels
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Pricing date: | July 12
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Settlement date: | July 15
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 0.4%
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Cusip: | 40057MLT4
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