Published on 6/15/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $510,000 autocallable notes linked to three indexes
By William Gullotti
Buffalo, N.Y., June 15 – GS Finance Corp. priced $510,000 of 0% autocallable index-linked notes due May 23, 2024 tied to the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its initial level on May 27, 2022, the notes will be called at par plus 12%.
If the notes are not called and each index finishes at or above its initial level, the payout will par plus two times the return of the least-performing index.
If the worst performer finishes below its initial level but above 85% of its initial level, the payout will be par.
If any index falls by more than 15%, investors will lose 1.1765% for every 1% that the least-performing index declines beyond the 15% buffer.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable index-linked notes
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| Underlying indexes: | S&P 500 index, Nasdaq-100 index, Russell 2000 index
|
| Amount: | $510,000
|
| Maturity: | May 23, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the notes are not called and each index finishes at or above its initial level, par plus two times the gain of the least-performing index; if the worst performer finishes below its initial level but above 85% of its initial level, par; if any index falls by more than 15%, investors will lose 1.1765% for every 1% that the least-performing index declines beyond the 15% buffer
|
| Call: | If each index closes at or above initial level on May 27, 2022, notes will be called at par plus 12%
|
| Initial index levels: | 4,159.12 for S&P, 13,494.09 for Nasdaq, 2,207.76 for Russell
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| Trigger buffer levels: | 85% of initial levels
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| Pricing date: | May 20
|
| Settlement date: | May 25
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.25%
|
| Cusip: | 40057HCQ1
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