Published on 7/19/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $323,000 autocallable equity-linked notes on four stocks
By William Gullotti
Buffalo, N.Y., July 19 – GS Finance Corp. priced $323,000 of autocallable equity-linked securities due July 2, 2026 tied to the stocks of Meta Platforms, Inc., Marathon Oil Corp., Tesla, Inc. and Block, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically redeemed at par plus a 59.45% annualized call premium if the worst-performing stock closes at or above its 85% downside threshold on any semiannual observation date after one year.
If the notes are not called and the final price of each stock greater than or equal to its downside threshold, the payout at maturity will be par plus 237.8%.
If the worst performer finishes below its downside threshold but at or above its 50% trigger buffer level, the payout will be par. Otherwise, investors will be fully exposed to the decline of the least-performing stock from its initial price.
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 equity-linked securities
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| Underlying stocks: | Meta Platforms, Inc., Marathon Oil Corp., Tesla, Inc., Block, Inc.
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| Amount: | $323,000
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| Maturity: | July 2, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 237.8% if each stock’s final price is greater than or equal to 85% of its initial price; if worst performer finishes below downside threshold but at or above trigger buffer, par; otherwise, full exposure to decline of least-performing stock from initial level
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| Call: | Automatically at par plus a 59.45% annualized call premium if the worst-performing stock closes at or above its downside threshold on any semiannual observation date after one year
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| Initial prices: | $169.49 for Meta, $69.43 for Block, $734.76 for Tesla, $23.12 for Marathon
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| Downside thresholds: | 85% of initial levels
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| Trigger buffer levels: | 50% of initial levels
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| Pricing date: | June 27
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| Settlement date: | June 30
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 1.75%
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| Cusip: | 40057ME62
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