Published on 10/18/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $772,000 autocallable index-linked notes on Stoxx, MSCI EM
By Kiku Steinfeld
Chicago, Oct. 18 – GS Finance Corp. priced $772,000 of 0% autocallable index-linked notes due Feb. 23, 2027 tied to the Euro Stoxx 50 index and the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus 15% on Feb. 28, 2023 if the least performing index closes at or above its initial level.
If the notes are not called and each index finishes at or above its initial level, the payout at maturity will be par plus 2.25 times the least performing index’s return.
If the worst performer declines but finishes at or above 50% of its initial level, the payout will be par.
If any index falls by more than 50%, investors will be exposed to the decline of the worst performing index from its initial level.
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: | Euro Stoxx 50 index, MSCI Emerging Markets index
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| Amount: | $772,000
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| Maturity: | Feb. 23, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the notes are not called and each index finishes at or above its initial level, par plus 2.25 times the least performing index’s return; if worst performer declines but finishes at or above trigger buffer level, par; otherwise, investors will be exposed to the decline of the worst performing index from its initial level
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| Call: | Par plus 15% on Feb. 28, 2023 if the least performing index closes at or above its initial level
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| Initial index levels: | 4,074.28 for Stoxx, 1,231.77 for EM
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| Trigger buffer levels: | 50% of initial levels
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| Pricing date: | Feb. 18, 2022
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| Settlement date: | Feb. 24, 2022
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 40057L6F3
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