Published on 6/24/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $697,000 autocallables linked to Russell, Nasdaq
By William Gullotti
Buffalo, N.Y., June 24 – GS Finance Corp. priced $697,000 of 0% autocallable index-linked notes due Feb. 14, 2023 tied to the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Beginning Nov. 8, if each index closes at or above its initial level on any quarterly call observation date, the notes will be called at par plus an annualized premium of 13%.
If the notes are not called and each index finishes at or above 102.5% of its initial level, the payout at maturity will be $1,227.50 per note.
If the final level of each index is greater than or equal to 70% of its initial level but the final level of any index is less than 102.5% of its initial level, the payout will be par.
If any index falls by more than 30%, investors will be exposed to the losses of the lesser-performing index from its initial level.
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.
|
| Issue: | Autocallable index-linked notes
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index
|
| Amount: | $697,000
|
| Maturity: | Feb. 14, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If notes are not called and each index finishes at or above 102.5% of initial level, $1,227.50 per note; if final level of each index is greater than or equal to 70% of initial level but final level of any index is less than 102.5% of initial level, par; if any index falls by more than 30%, investors will be exposed to losses of lesser-performing index from initial level
|
| Call: | Beginning Nov. 8, if each index closes at or above initial level on any quarterly observation date, notes will be called at par plus 13% per year
|
| Initial index levels: | 13,719.63 for Nasdaq, 2,271.629 for Russell
|
| Trigger buffer levels: | 70% of initial levels
|
| Pricing date: | May 7
|
| Settlement date: | May 12
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.47%
|
| Cusip: | 40057HAJ9
|
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