Published on 7/17/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.5 million autocallable index-linked notes on S&P, Russell, Nasdaq
By Kiku Steinfeld
Chicago, July 18 – GS Finance Corp. priced $1.5 million of 0% autocallable index-linked notes due Jan. 5, 2027 tied to the Nasdaq-100 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its initial level on any annual call observation date, the notes will be called at par plus a premium based on an annualized 7.5% rate.
If the notes are not called and each index finishes at or above its initial level, the payout will be par plus 37.5%.
If the worst performer declines but finishes at or above 70% of its initial level, the payout will be par.
Otherwise, investors will be fully exposed to the losses of the worst performer.
The notes are guaranteed by Goldman Sachs Group, Inc.
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: | Autocallable index-linked notes
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Underlying indexes: | Nasdaq-100 index, S&P 500 index and Russell 2000 index
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Amount: | $1,499,000
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Maturity: | Jan. 5, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 37.5% if all three indexes finish at or above initial levels; par if worst performer declines but finishes above at or above trigger buffer level; otherwise, investors will be fully exposed to the decline of the worst performing index from its initial level
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Call: | Automatically at par plus 7.5% annualized rate if all indexes finish above initial levels on any annual call observation date
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Initial index levels: | 16,488.66 for Nasdaq, 4,786.35 for S&P, 2,246.505 for Russell
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Trigger buffer levels: | 70% of initial levels
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Pricing date: | Dec. 28, 2021
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Settlement date: | Dec. 31, 2021
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 3.65%
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Cusip: | 40057KBG7
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