Published on 8/5/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $7.98 million autocallable index-linked notes on indexes
By Kiku Steinfeld
Chicago, Aug. 5 – GS Finance Corp. priced $7.98 million of 0% autocallable index-linked notes due July 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.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically called at par plus 12% if each index closes at or above its initial level on July 18, 2022.
If the notes are not called and each index closes at or above its initial level, the payout at maturity will be par plus 1.5 times the lesser performing index return.
If the least performing index falls by no more than 30% of its initial level, the payout at maturity will be par.
Otherwise, investors will be exposed to any losses of the least-performing index.
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, Nasdaq-100, Russell 2000
|
| Amount: | $7,982,000
|
| Maturity: | July 23, 2024
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above its initial level, par plus 1.5 times lesser performing index return; par if least performing index falls by no more than 30% of its initial level; otherwise, full exposure to losses
|
| Call: | At par plus 12% if each index closes at or above its initial level on July 18, 2022
|
| Initial index levels: | 2,163.238 for Russell, 4,327.16 for S&P, 14,681.38 for Nasdaq
|
| Barrier levels: | 70% of initial index levels
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| Pricing date: | July 16
|
| Settlement date: | July 21
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 2.83%
|
| Cusip: | 40057HV49
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