Published on 2/9/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.25 million contingent market-linked autocalls on three indexes
By Kiku Steinfeld
Chicago, Feb. 9 – GS Finance Corp. priced $1.25 million of market-linked securities due Jan. 29, 2026 to the worst performing of the Russell 2000 index, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 8.5% if each index closes at or above its 75% coupon threshold on the observation date for that quarter.
The notes will be called at par plus coupon if each index closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless any index finishes below its 75% barrier value, in which case the payout will be par plus the return of the worst performing index with full exposure to any losses.
Wells Fargo Securities, LLC and Goldman Sachs & Co. LLC are the agents.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Market linked securities – autocallable with contingent coupon and contingent downside
|
| Underlying indexes: | Russell 2000 index, S&P 500 index and Nasdaq-100 index
|
| Amount: | $1,245,000
|
| Maturity: | Jan. 29, 2026
|
| Coupon: | 8.5% annualized, payable quarterly if each index closes at or above coupon threshold on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below downside threshold, in which case 1% loss per 1% decline of worst performing index
|
| Call: | At par plus coupon if each index closes at or above its initial level on any observation date after six months
|
| Initial levels: | 4,515.55 for S&P, 2,028.453 for Russell, 14,930.05 for Nasdaq
|
| Coupon thresholds: | 75% of initial levels
|
| Downside thresholds: | 75% of initial levels
|
| Pricing date: | Jan. 31
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| Settlement date: | Feb. 3
|
| Agents: | Wells Fargo Securities, LLC and Goldman Sachs & Co. LLC
|
| Fees: | 2.175%
|
| Cusip: | 40057KN90
|
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