Published on 5/31/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $12.38 million step down trigger autocalls on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, May 31 – GS Finance Corp. priced $12.38 million of 0% step down trigger autocallable notes due May 27, 2027 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annualized call premium of 10.54% if each index closes at or above its initial level on any quarterly observation date after one year.
If the notes are not called, the payout at maturity will be par plus 52.7% unless any index closes below its 75% downside threshold.
Otherwise, investors will be fully exposed to the decline of the worst performing index from its initial level.
The guarantor is Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter with UBS Financial Services Inc. as the selling agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Step down trigger autocallable notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index
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| Amount: | $12,375,000
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| Maturity: | May 27, 2027
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| Coupon: | 0%
|
| Price: | Par of $10
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| Payout at maturity: | If each index finishes at or above 75% downside threshold, par plus 52.7%; otherwise, 1% loss for each 1% decline of worst performing index from initial level
|
| Call: | At par plus 10.54% per year if each index closes at or above its call threshold level on any quarterly observation date after one year
|
| Initial levels: | 3,941.48 for S&P, 1,764.826 for Russell
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| Downside thresholds: | 2,956.11 for S&P, 1,323.62 for Russell; 75% of initial levels
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| Pricing date: | May 24
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| Settlement date: | May 27
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| Agent: | Goldman Sachs & Co. LLC
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| Underwriter: | UBS Financial Services Inc.
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| Fees: | 1%
|
| Cusip: | 36263Q462
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