Published on 12/29/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $500,000 autocallable underlier-linked notes on index, ETF
By Kiku Steinfeld
Chicago, Dec. 29 – GS Finance Corp. priced $500,000 of 0% autocallable underlier-linked notes due Aug. 25, 2026 linked to the S&P 500 Value index and the iShares Russell 2000 Value 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 an 11.2% call premium if the lesser-performing underlier closes at or above its initial level on Aug. 29, 2022.
If the lesser-performing underlier finishes above its initial level, the payout at maturity will be par plus 2 times the return of the lesser-performing underlier.
If the worst performer falls by up to 30%, 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.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable underlier-linked notes
|
| Underlying assets: | S&P 500 Value index, iShares Russell 2000 Value ETF
|
| Amount: | $500,000
|
| Maturity: | Aug. 25, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the lesser-performing asset finishes above initial level, par plus 2 times the return of the lesser-performing underlier; if the worst performer declines by up to 30%, par; otherwise, exposure to worst performer’s decline from its initial level
|
| Call: | Automatically at par plus 11.2% call premium if lesser-performing underlier closes at or above initial level on Aug. 29, 2022
|
| Initial levels: | 1,473.77 for index, $157.70 for fund
|
| Trigger buffer levels: | 70% of initial levels
|
| Pricing date: | Aug. 20
|
| Settlement date: | Aug. 25
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 1%
|
| Cusip: | 40057JBH8
|
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