Published on 5/19/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.93 million autocallable index-linked notes on S&P, Russell
By Kiku Steinfeld
Chicago, May 19 – GS Finance Corp. priced $2.93 million of 0% autocallable index-linked notes due Nov. 3, 2022 tied to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically called at par plus an annualized premium of 6.375% if each index closes above its initial level on any quarterly call date after six months.
The payout at maturity will be par plus 1.5 times the return of the lesser performer if both indexes finish at or above their initial levels. The payout will be par if the least performing index falls by up to 30%. Otherwise, investors will lose 1% for every 1% that the least performing index declines.
Goldman Sachs & Co. LLC is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Autocallable index-linked notes
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Underlying indexes: | Russell 2000 index, S&P 500 index
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Amount: | $2,933,000
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Maturity: | Nov. 3, 2022
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Coupon: | 0%
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Price: | Par of $1,000
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Call: | At par plus 6.375% annualized premium if both indexes close above initial level on any quarterly call date after six months
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Payout at maturity: | Par plus 1.5 times the return of the lesser performer if both indexes finish at or above their initial levels.; par if least performing index falls by up to 30%; otherwise 1% loss for every 1% decline of least performing index
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Initial levels: | 4,186.72 for S&P 500, 2,301.267 for Russell
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Threshold levels: | 70% of initial levels
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Pricing date: | April 27
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Settlement date: | April 30
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 2.12%
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Cusip: | 40057FV92
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