Published on 5/1/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $636,000 autocallable equity-linked notes on four stocks
By Kiku Steinfeld
Chicago, May 3 – GS Finance Corp. priced $636,000 of autocallable equity-linked securities due April 20, 2026 tied to the common shares of Datadog, Inc., Teladoc Health, Inc., Pinterest, Inc. and Caterpillar Inc. according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
After one year, the notes will be automatically redeemed at par plus 48% annualized if the worst-performing stock closes at or above 90% of its initial price on any quarterly observation date.
If the notes are not called and the final price of each stock is at least 90% of its initial price, the payout at maturity will be par plus 240%. If the final price of any stock is less than 90% of its initial price but no stock is less than 50% of its initial price, the payout will be par. Otherwise, investors will be exposed to the loss of the least-performing stock.
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: | Datadog, Inc., Teladoc Health, Inc., Pinterest, Inc. and Caterpillar Inc.
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| Amount: | $636,000
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| Maturity: | April 20, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 240% if each stock’s final price is at least 90% of initial price; par if final price of any stock is less than 90% of its initial price but no stock is less than 50% of its initial price; otherwise, full exposure to losses of least-performing stock
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| Call: | After one year, at par plus 48% annualized if the worst-performing stock closes at or above 90% of its initial price on any quarterly observation date
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| Initial prices: | $95.27 for Datadog, $232.52 for Caterpillar, $84.43 for Pinterest and $192.38 for Teladoc
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| Downside thresholds: | 50% of initial levels
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| Pricing date: | April 15
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| Settlement date: | April 20
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 1.75%
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| Cusip: | 40057FYP3
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