Published on 3/16/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $4.57 million step down trigger autocalls on Nasdaq, Russell Value
By William Gullotti
Buffalo, N.Y., March 16 – GS Finance Corp. priced $4.57 million of 0% step down trigger autocallable notes due March 16, 2027 linked to the least performing of the Russell 2000 Value index and the Nasdaq-100 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 8.6% if each index closes at or above its initial level on any quarterly observation date after one year.
If the notes are not called and each index finishes at or above the 70% downside threshold, the payout at maturity will be par plus 43%.
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.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Step down trigger autocallable notes
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Underlying indexes: | Nasdaq-100 index, Russell 2000 Value index
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Amount: | $4,572,000
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Maturity: | March 16, 2027
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If each index finishes at or above the 70% downside threshold, par plus 43%; otherwise, 1% loss for each 1% decline of worst performing index from initial level
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Call: | At par plus 8.6% per year if each index closes at or above its call threshold level on any quarterly observation date after one year
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Initial levels: | 13,301.83 for Nasdaq, 2,351.18 for Russell Value
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Downside thresholds: | 9,311.281 for Nasdaq, 1,645.826 for Russell Value; 70% of initial levels
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Pricing date: | March 11
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Settlement date: | March 16
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Agent: | Goldman Sachs & Co. LLC
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Underwriter: | UBS Financial Services Inc.
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Fees: | 2.5%
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Cusip: | 36264H206
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