Published on 9/7/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.02 million autocallable index-linked notes on Russell 2000 Value, S&P
By Kiku Steinfeld
Chicago, Sept. 7 – GS Finance Corp. priced $2.02 million of 0% autocallable index-linked notes due Sept. 2, 2026 tied to the least performing of the Russell 2000 Value index and the S&P 500 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 an annualized premium of 6% if each index closes at or above its initial level on any annual call date.
The payout at maturity will be par plus 30% if both indexes finish at or above their initial levels. The payout will be par unless the least performing index falls by up to 30%, in which case investors will lose 1% for every 1% decline of the least performing index.
Goldman Sachs & Co. LLC is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Autocallable index-linked notes
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Underlying indexes: | Russell 2000 Value index, S&P 500 index
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Amount: | $2,018,000
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Maturity: | Sept. 2, 2026
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Coupon: | 0%
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Price: | Par of $1,000
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Call: | At par plus 6% annualized premium if both indexes close at or above initial level on any annual call date
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Payout at maturity: | Par plus 30% if both indexes finish at or above initial level; par if least performing index falls by up to 30%; otherwise, exposure to losses of least performer
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Initial levels: | 4,470.00 for S&P, 2,391.198 for Russell Value
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Trigger buffer: | 70% of initial levels
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Pricing date: | Aug. 26
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Settlement date: | Aug. 31
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 4.23%
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Cusip: | 40057HZN3
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