Published on 3/30/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $3.61 million autocallable contingent coupon notes on Nasdaq, Russell, Stoxx
By Taylor Fox
New York, March 30 – GS Finance Corp. priced $3.61 million of autocallable contingent coupon notes due March 26, 2029 linked to the Euro Stoxx 50 index, 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.
Each quarter, the notes pay a contingent coupon at a rate of 6.2% per year if each index closes at or above 70% of its initial level on the observation date for that period.
The notes are callable at par plus the coupon on any quarterly call observation date after one year.
The payout at maturity will be par unless any index finishes below 70% of its initial level, in which case investors will be fully exposed to the decline of the lesser performing index.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon notes
|
| Underlying indexes: | Euro Stoxx 50 index, Russell 2000 and Nasdaq-100
|
| Amount: | $3,611,000
|
| Maturity: | March 26, 2029
|
| Coupon: | 6.2% per year; payable each quarter that each index closes at or above 70% of its initial level on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below trigger level, in which case full exposure to decline of lesser performing index
|
| Call: | At par plus the coupon on any quarterly call observation date after one year
|
| Initial index levels: | 3,849.74 for Stoxx, 13,202.38 for Nasdaq-100 and 2,336.392 for Russell
|
| Trigger levels: | 70% of initial levels
|
| Pricing date: | March 17
|
| Settlement date: | March 22
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 4.65%
|
| Cusip: | 40057FRN6
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
