Published on 5/4/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $13.71 million step-down trigger autocalls linked to Euro Stoxx 50, Nasdaq-100
By Wendy Van Sickle
Columbus, Ohio, May 4 – GS Finance Corp. priced $13.71 million of 0% step-down trigger autocallable notes due May 1, 2026 linked to the lesser performing of the Euro Stoxx 50 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
After one year, the notes will be automatically called at par of $10 plus 7% per year if each index closes at or above its initial level on any quarterly call observation date.
If not called, the payout at maturity will be $13.50 per $10.00 of notes if both indexes finish above 75% of their initial levels.
Otherwise, investors will be exposed to the losses of the worst performer.
Goldman Sachs & Co. LLC is the underwriter, and UBS Financial Services Inc. is the selling agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Step-down trigger autocallable notes
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| Underlying indexes: | Euro Stoxx 50 index and Nasdaq-100 index
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| Amount: | $13,712,000
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| Maturity: | May 1, 2026
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If final level of each index is greater than or equal to downside threshold, $13.50 per $10.00 note; otherwise, exposure to decline of lesser-performing index from initial level
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| Call: | At par plus 7% per year if each index closes at or above initial level on any quarterly observation date after one year
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| Initial levels: | 4,015.03 for Euro Stoxx 50 and 13,901.62 for Nasdaq
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| Downside thresholds: | 3,011.27 for Euro Stoxx 50 and 10,426.22 for Nasdaq, or 75% of initial levels
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| Pricing date: | April 28
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| Settlement date: | April 30
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| Underwriter: | Goldman Sachs & Co. LLC
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| Selling agent: | UBS Financial Services Inc.
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| Fees: | 2.5%
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| Cusip: | 36260W579
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