Published on 5/16/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance $500,000 contingent coupon equity notes linked to Tesla
Chicago, May 16 – GS Finance Corp. priced $500,000 of contingent coupon equity-linked notes due April 17, 2023 linked to the Tesla, Inc., 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 annualized rate of 12% if the stock closes at or above the coupon barrier level, 70% of the initial level, on the valuation date for that period.
The payout at maturity will be par plus any final coupon unless the stock finishes below the 55% barrier level, in which case investors will be fully exposed to the loss.
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: | Contingent coupon equity-linked notes
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Underlying stock: | Tesla, Inc.
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Amount: | $500,000
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Maturity: | April 17, 2023
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Coupon: | 12% per year, payable quarterly if stock closes at or above coupon barrier on valuation date for that period
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Price: | Par
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Payout at maturity: | Par plus coupon unless stock finishes below barrier level, in which case full exposure to decline from initial level
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Initial level: | $785.49
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Coupon barrier level: | 70% of initial level
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Barrier level: | 55% of initial level
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Pricing date: | Oct. 8, 2021
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Settlement date: | Oct. 14, 2021
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.35%
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Cusip: | 40057JR57
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