Published on 1/7/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $6.68 million step down trigger autocalls on S&P, Russell, Stoxx
By William Gullotti
Buffalo, N.Y., Jan. 7 – GS Finance Corp. priced $6.68 million of 0% step down trigger autocallable notes due Jan. 7, 2027 linked to the least performing of the Russell 2000 index, the Euro Stoxx 50 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 8.45% if each index closes at or above its initial level on any quarterly observation date after one year.
If the notes are not called, the payout at maturity will be par plus 42.25% unless any index closes below its 75% step barrier.
Otherwise, investors will be fully exposed to the decline of the worst performing index from its initial level.
The guarantor is Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter with UBS Financial Services Inc. as the selling agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Step down trigger autocallable notes
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| Underlying indexes: | S&P 500 index, Euro Stoxx 50 index, Russell 2000 index
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| Amount: | $6,678,000
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| Maturity: | Jan. 7, 2027
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| Coupon: | 0%
|
| Price: | Par of $10
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| Payout at maturity: | If each index finishes at or above 75% step barrier, par plus 42.25%; otherwise, 1% loss for each 1% decline of worst performing index from initial level
|
| Call: | At par plus 8.45% per year if each index closes at or above its call threshold level on any quarterly observation date after one year
|
| Initial levels: | 4,778.73 for S&P, 4,306.07 for Stoxx, 2,248.793 for Russell
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| Step barrier: | 3,584.048 for S&P, 3,229.553 Stoxx, 1,686.595 for Russell; 75% of initial levels
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| Strike date: | Dec. 30
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| Pricing date: | Jan. 3
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| Settlement date: | Jan. 6
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| Agent: | Goldman Sachs & Co. LLC
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| Underwriter: | UBS Financial Services Inc.
|
| Fees: | 2.25%
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| Cusip: | 36261Y574
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