Published on 9/3/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.14 million autocallable underlier-linked notes on index, ETF
By Wendy Van Sickle
Columbus, Ohio, Sept. 3 – GS Finance Corp. priced $1.14 million of 0% autocallable underlier-linked notes due June 25, 2024 linked to the Russell 2000 index and the VanEck Vectors Gold Miners ETF, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically called at par plus a 36% call premium if the lesser-performing underlier closes at or above its initial level on June 20, 2022.
If the lesser-performing underlier finishes at or above its initial level, the payout at maturity will be par plus 1.4 times the return of the lesser-performing underlier.
If the worst performer falls by up to 30%, the payout will be par. Otherwise, investors will be exposed to the worst performer’s decline from its initial level.
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 underlier-linked notes
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Underlying assets: | Russell 2000 index, VanEck Vectors Gold Miners ETF
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Amount: | $1,143,000
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Maturity: | June 25, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the lesser-performing asset finishes at or above initial level, par plus 1.4 times the return of the lesser-performing underlier; if the worst performer declines by up to 30%, par; otherwise, investors will be fully exposed to the worst performer’s decline from its initial level
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Call: | Automatically at par plus a 36% call premium if lesser-performing underlier closes at or above initial level on June 20, 2022
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Initial levels: | 2,237.745 for index, $34.13 for fund
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Trigger buffer levels: | 70% of initial levels
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Pricing date: | June 18
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Settlement date: | June 23
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 0.63%
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Cusip: | 40057HM31
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