Published on 5/5/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $3.19 million 10.6% autocallable fixed coupon notes on four stocks
By Wendy Van Sickle
Columbus, Ohio, May 5 – GS Finance Corp. priced $3.19 million of 10.6% autocallable fixed coupon equity-linked notes due April 22, 2027 linked to the common stocks of Paycom Software, Inc., Tesla, Inc., Apple Inc. and DocuSign, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Interest is payable quarterly.
The notes will be automatically called at par plus the coupon if the least-performing stock closes at or above its initial level on any quarterly call observation date after six months.
If the notes are not subject to an automatic call, the payout at maturity will be par unless any stock finishes below the 50% trigger buffer, in which case investors will lose 1% for each 1% decline of the least-performing stock from its initial level.
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 fixed coupon equity-linked notes
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| Underlying stocks: | Paycom Software, Inc., Tesla, Inc., Apple Inc., DocuSign, Inc.
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| Amount: | $3,194,000
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| Maturity: | April 22, 2027
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| Coupon: | 10.6%, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below the trigger buffer, in which case investors will lose 1% for each 1% decline of the least-performing stock from its initial level
|
| Call: | At par plus the coupon if all stocks close at or above their initial levels on any quarterly call observation date after six months
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| Initial levels: | $295.97 for Paycom, $1,005.05 for Tesla, $161.79 for Apple, $86.33 for DocuSign
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| Trigger buffers: | 50% of initial levels
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| Pricing date: | April 22
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| Settlement date: | April 27
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 4%
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| Cusip: | 40057LR94
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