Published on 9/8/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $938,000 autocallable underlier-linked notes on Dow, Ark Innovation
By Kiku Steinfeld
Chicago, Sept. 8 – GS Finance Corp. priced $938,000 of 0% autocallable underlier-linked notes due Aug. 5, 2024 linked to the Dow Jones industrial average and the ARK Innovation 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 16% per year if the lesser-performing underlier closes at or above its initial level on any biannual observation date.
If the lesser-performing underlier finishes at or above its initial level, the payout at maturity will be par plus 40%. If the lesser-performing underlier falls but finishes at or above its 85% buffer level, the payout at maturity will be par. Otherwise, investors will be exposed to the worst performer’s decline beyond 15%.
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 underlier-linked notes
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| Underlying assets: | Dow Jones industrial average, ARK Innovation ETF
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| Amount: | $938,000
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| Maturity: | Aug. 5, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If lesser-performing underlier finishes at or above initial level, par plus 40%; if lesser-performing underlier falls but finishes at or above its buffer level, par; otherwise, investors will be exposed to the worst performer’s decline beyond 15%
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| Call: | Automatically at par plus 16% per year if lesser-performing underlier closes at or above initial level on any biannual observation date
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| Initial levels: | 34,160.78 for index, $66.33 for fund
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| Buffer levels: | 85% of initial levels
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| Pricing date: | Jan. 27, 2022
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| Settlement date: | Jan. 31, 2022
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 2.75%
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| Cusip: | 40057KUY7
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