Chicago, May 31 – GS Finance Corp. priced $1.4 million of autocallable contingent coupon ETF-linked notes due May 19, 2023 tied to the ARK Innovation ETF, 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 the ETF closes at or above the coupon trigger level, 70% of the initial level, on the valuation date for that period.
The notes will be called at par plus a coupon if the ETF closes at or above its initial level on any quarterly call observation date.
If the notes are not called and the ETF closes at or above 70% of initial value, the payout will be par.
If the ETF falls by more than 30%, investors will be fully exposed to the ETF’s decline from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon ETF-linked notes
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| Underlying ETF: | ARK Innovation ETF
|
| Amount: | $1,404,000
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| Maturity: | May 19, 2023
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| Coupon: | 8.5% annualized rate, payable quarterly if the ETF closes at or above coupon trigger level, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If the ETF finishes at or above trigger barrier level, par; if the ETF falls by more than 30%, full exposure to losses
|
| Call: | At par plus coupon if the ETF closes at or above its initial level on any quarterly call observation date
|
| Initial ETF level: | $118.49
|
| Trigger buffer level: | 70% of initial level
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| Coupon trigger level: | 70% of initial level
|
| Pricing date: | Nov. 12, 2021
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| Settlement date: | Nov. 17, 2021
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| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 2.34%
|
| Cusip: | 40057JWS1
|
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