Published on 12/6/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $700,000 autocallable equity-linked notes on four stocks
By William Gullotti
Buffalo, N.Y., Dec. 6 – GS Finance Corp. priced $700,000 of autocallable equity-linked securities due Aug. 20, 2026 tied to the stocks of DocuSign, Inc., Alibaba Group Holding Ltd., Trade Desk, Inc. and Pinduoduo 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 40.1% annualized call premium if the worst-performing stock closes at or above its call level, 90% of initial price, on any semiannual observation date after one year.
If the notes are not called and the final price of each stock is at or above its call level, the payout at maturity will be par plus 200.5%
If the worst performer finishes below its call level but at or above the 50% downside threshold, the payout at maturity will be par. Otherwise, investors will be exposed to the decline of the worst performer 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: | DocuSign, Inc., Alibaba Group Holding Ltd., Trade Desk, Inc., Pinduoduo Inc.
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| Amount: | $700,000
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| Maturity: | Aug. 20, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 200.5% if each stock’s final price is greater than or equal to 90% of its initial price; if the worst performer finishes below call level but not below downside threshold, par; otherwise, full exposure to losses of least-performing stock
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| Call: | Automatically at par plus a 40.1% annualized call premium if the worst-performing stock closes at or above its call level on any semiannual observation date after one year
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| Initial prices: | $286.75 for DocuSign, $182.71 for Alibaba, $78.96 for Trade Desk, $82.22 for Pinduoduo
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| Call levels: | 90% of initial levels
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| Downside thresholds: | 50% of initial levels
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| Pricing date: | Aug. 16
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| Settlement date: | Aug. 19
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 1.75%
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| Cusip: | 40057J6F8
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