Published on 6/14/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $766,000 autocallable contingent coupon notes on indexes
Chicago, June 14 – GS Finance Corp. priced $766,000 of autocallable contingent coupon notes due June 12, 2023 linked to the worst performing of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, 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 of 10.5% per annum if each index closes at or above its 80% coupon barrier level on the determination date for that period.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly determination date after six months.
The payout at maturity will be par if no index closes below 70% of its initial level during the life of the notes or if all indexes close above their initial levels. Otherwise, investors will lose 1% for each 1% decline of the least-performing index.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon notes
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| Underlying indexes: | S&P 500 index, Nasdaq-100 index and Russell 2000 index
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| Amount: | $766,000
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| Maturity: | June 12, 2023
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| Contingent coupon: | 10.5% annualized, payable quarterly if each index closes at or above coupon barrier level on the determination date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any index closes below trigger level during life of the notes or if all indexes close above initial levels, otherwise, full exposure to losses of worst performer
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly determination date after six months
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| Initial levels: | 4,538.43 for S&P, 15,712.04 for Nasdaq and 2,159.31 for Russell
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| Coupon barriers: | 80% of initial levels
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| Trigger levels: | 70% of initial levels
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| Pricing date: | Dec. 3, 2021
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| Settlement date: | Dec. 8, 2021
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.36%
|
| Cusip: | 40057K7L1
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