Published on 9/30/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $500,000 autocallable index-linked notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, Sept. 30 – GS Finance Corp. priced $500,000 of 0% autocallable index-linked notes due July 18, 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 July 15, 2022, the notes will be called at par plus a 10.5% call premium.
If the notes are not called and each index finishes at or above its initial level, the payout will be par plus 2 times the return of the least performing index.
If the worst performer finishes 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 each 1% the decline of the worst performing index beyond 15%.
The notes are guaranteed by Goldman Sachs Group, Inc.
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: | S&P 500 index, Nasdaq-100 index, Russell 2000 index
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| Amount: | $500,000
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| Maturity: | July 18, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the notes are not called and each index finishes at or above its initial level, par plus 2 times the return of the least performing index; if worst performer finishes above 85% of initial level, par; 1.1765% loss for each 1% decline of worst performer beyond 15%
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| Call: | If each index closes at or above initial level on July 15, 2022, notes will be called at par plus a 10.5% call premium
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| Initial index levels: | 4,374.3 for S&P, 14,900.44 for Nasdaq, 2,202.358 for Russell
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| Buffer levels: | 85% of initial levels
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| Pricing date: | July 12
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| Settlement date: | July 19
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 40057HVT4
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