Published on 4/22/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.56 million jump autocallables on PayPal, Mastercard
By Wendy Van Sickle
Columbus, Ohio, April 22 – GS Finance Corp. priced $2.56 million of 0% jump securities with autocallable feature due April 4, 2024 linked to the least performing of the class A common stock of Mastercard Inc. and the common stock of PayPal Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 8.5% per year if each stock closes at or above its initial share price on any quarterly determination date after one year.
If each stock’s final share price is greater than or equal to its 60% downside threshold level, the payout at maturity will be par plus 25.5%. Otherwise, investors will lose 1% for every 1% that the lesser-performing stock declines from its initial share price.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter with Morgan Stanley Wealth Management as a dealer.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Jump securities with autocallable feature
|
| Underlying stocks: | Mastercard Inc. and PayPal Holdings, Inc.
|
| Amount: | $2,555,000
|
| Maturity: | April 4, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each stock’s final share price is greater than or equal to its downside threshold level, par plus 25.5%; otherwise, 1% loss for every 1% that the lesser-performing stock declines
|
| Call: | Automatically at par plus 8.5% per year if each stock closes at or above initial share price on any quarterly determination date after one year
|
| Initial levels: | $356.05 for Mastercard, $242.84 for PayPal
|
| Downside threshold levels: | $213.63 for Mastercard, $145.704 for PayPal; 60% of initial levels
|
| Pricing date: | March 31
|
| Settlement date: | April 6
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Selected dealer: | Morgan Stanley Wealth Management as a dealer
|
| Fees: | 3.175%
|
| Cusip: | 36260W181
|
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