Published on 9/3/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.94 million autocallable underlier-linked notes on index, ETF
By William Gullotti
Buffalo, N.Y., Sept. 3 – GS Finance Corp. priced $2.94 million of 0% autocallable underlier-linked notes due Sept. 5, 2023 linked to the S&P 500 index and the SPDR S&P Biotech ETF, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically called at par plus a 14.4% call premium if the lesser-performing underlier closes at or above its initial level on Aug. 26, 2022.
If the lesser-performing underlier finishes at or above its initial level, the payout at maturity will be par plus 1.5 times the return of the lesser-performing underlier.
If the worst performer falls by up to 25%, the payout will be par. Otherwise, investors will be exposed to the worst performer’s decline from its initial level.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable underlier-linked notes
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| Underlying assets: | S&P 500 index, SPDR S&P Biotech ETF
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| Amount: | $2,936,000
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| Maturity: | Sept. 5, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the lesser-performing underlier finishes at or above initial level, par plus 1.5 times the return of the lesser-performing underlier; if the worst performer declines by up to 25%, par; otherwise, investors will be fully exposed to the worst performer’s decline from its initial level
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| Call: | Automatically at par plus a 14.4% call premium if lesser-performing underlier closes at or above initial level on Aug. 26, 2022
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| Initial levels: | 4,470.0 for index, $128.58 for fund
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| Trigger buffer levels: | 75% of initial levels
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| Pricing date: | Aug. 26
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| Settlement date: | Aug. 31
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 2.5%
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| Cusip: | 40057JBY1
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