Published on 11/3/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $4.16 million of 6.6% autocallable fixed coupon notes on four stocks
By William Gullotti
Buffalo, N.Y., Nov. 3 – GS Finance Corp. priced $4.16 million of 6.6% autocallable fixed coupon equity-linked notes due Oct. 28, 2024 linked to the common stock of Amazon.com, Inc., the class C capital stock of Alphabet Inc., the common stock of Apple Inc. and the common stock of Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Interest is payable monthly.
The notes will be automatically called at par plus the coupon if the least-performing stock closes at or above its initial price on any quarterly call observation date after six months.
If the notes are not subject to an automatic call, the payout at maturity will be par unless any stock finishes below the 60% trigger price, in which case investors will lose 1% for each 1% decline of the least-performing stock from its initial price.
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 fixed coupon equity-linked notes
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| Underlying stocks: | Amazon.com, Inc., Alphabet Inc., Apple Inc., Netflix, Inc.
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| Amount: | $4,155,000
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| Maturity: | Oct. 28, 2024
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| Coupon: | 6.6%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below the trigger price, in which case investors will lose 1% for each 1% decline of the least-performing stock from its initial price
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| Call: | At par plus the coupon if all stocks close at or above their initial prices on any quarterly call observation date after six months
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| Initial prices: | $3,376.07 for Amazon, $2,793.44 for Alphabet, $149.32 for Apple, $668.52 for Netflix
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| Trigger buffer prices: | 60% of initial levels
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| Pricing date: | Oct. 26
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| Settlement date: | Oct. 29
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 3%
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| Cusip: | 40057JQP4
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