Published on 6/3/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $16.07 million autocallable jump securities tied to three indexes
By Emma Trincal
New York, June 3 – GS Finance Corp. priced $16.07 million of 0% jump securities with autocallable feature due June 2, 2026, linked to the worst performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Goldman Sachs Group, Inc.
The notes will be called at par of $10 plus an annualized premium of 10% if each index closes at or above its initial level on any quarterly call observation date after one year.
The payout at maturity will be par plus 50% if each index finishes at or above its initial level. If the worst performing index declines by no more than 20%, the payout will be par. If the worst performing index finishes below its 80% downside threshold level, investors will be fully exposed to the decline of that index.
Goldman Sachs & Co. is the underwriter with Morgan Stanley Wealth Management as dealer.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Jump securities with autocallable feature
|
| Underlying indexes: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
|
| Amount: | $16,074,960
|
| Maturity: | June 2, 2026
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Call: | At par plus 10% per year if each index closes at or above its initial level on any quarterly review date after a year
|
| Payout at maturity: | Par plus 50% if each index finishes at or above its initial level; if the worst performing index declines by no more than 20%, par; if the worst performing index finishes below its downside threshold level, investors will be fully exposed to the decline of that index
|
| Initial levels: | 4,204.11 for S&P, 2,268.972 for Russell and 4,070.56 for Stoxx
|
| Downside thresholds: | 3,363.288 for S&P, 1,815.1776 for Russell and 3,256.4483,069.616 for Stoxx; 80% of initial levels
|
| Pricing date: | May 28
|
| Settlement date: | June 3
|
| Agent: | Goldman Sachs & Co.
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| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 3.5%
|
| Cusip: | 36260Y179
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