Published on 7/14/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $2.13 million autocallable equity-linked notes on three stocks
By William Gullotti
Buffalo, N.Y., July 14 – GS Finance Corp. priced $2.13 million of autocallable equity-linked securities due July 13, 2023 tied to the stocks of Apple Inc., salesforce.com, inc. and Alphabet 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 10% if the worst-performing stock closes at or above its initial price on July 22, 2022.
If the notes are not called and the final price of each stock is at or above the 60% downside threshold, the payout at maturity will be par plus 20%. Otherwise, investors will be exposed to the loss of the least-performing stock.
Goldman Sachs & Co. LLC is the agent with JP Morgan acting as placement agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable equity-linked securities
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| Underlying stocks: | Apple Inc., salesforce.com, inc. and Alphabet Inc.
|
| Amount: | $2,125,000
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| Maturity: | July 13, 2023
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 20% if each stock’s final price is greater than or equal to 60% of its initial price; otherwise, full exposure to losses of least-performing stock
|
| Call: | Automatically at par plus 10% if the worst-performing stock closes at or above its initial price on July 22, 2022
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| Initial prices: | $2,500.88 for Alphabet, $245.80 for salesforce.com, $143.24 for Apple
|
| Downside thresholds: | 60% of initial levels
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| Strike date: | July 8
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| Pricing date: | July 9
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| Settlement date: | July 14
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| Agent: | Goldman Sachs & Co. LLC
|
| Placement Agent: | JP Morgan
|
| Fees: | 0.45%
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| Cusip: | 40057HVD9
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