Published on 6/13/2021 in the Prospect News Structured Products Daily.
New Issue: GS sells $2.4 million 6.5% autocallables linked to four tech stocks
By Kiku Steinfeld
Chicago, June 14 – GS Finance Corp. priced $2.4 million of 6.5% autocallable fixed coupon equity-linked notes due May 28, 2024 linked to the common stocks of Netflix, Inc., Amazon.com, Inc. and Apple Inc. and the class C capital stock of Alphabet Inc. according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Interest is payable monthly.
The notes will be automatically called at par if each stock closes at or above its initial share price on any quarterly call observation date after six months.
If the notes are not called and the final share price of each stock is greater than or equal to its final barrier price, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the share price of the least performing stock.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable fixed coupon equity-linked securities
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| Underlying stocks: | Netflix, Inc., Amazon.com, Inc., Apple Inc. and Alphabet Inc.
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| Amount: | $2.4 million
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| Maturity: | May 28, 2024
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| Coupon: | 6.5%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par if each stock finishes at or above 60% of its initial share price; otherwise, full exposure to decline of least performing stock
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| Call: | At par if closing share price of least performing stock is greater than or equal to its initial share price on any quarterly observation date after six months
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| Initial share prices: | $3,232.28 for Amazon, $2,303.43 for Alphabet, $124.85 for Apple and $486.28 for Netflix
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| Final barrier prices: | 60% of initial levels
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| Pricing date: | May 18
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| Settlement date: | May 21
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 3.3%
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| Cusip: | 40057HAT7
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