$7,692,000 Contingent Income Auto-Callable Securities Based on the Performance of the Common Stock of Moderna, Inc. due November 29, 2024, priced on November 23, 2021, were issued by GS Finance Corp. The pricing supplement for this note (CUSIP: 36261U861) can be found here. The notes had a $10 face value and paid a quarterly coupon of $0.23125, so long as the notes had not been called and and Moderna all closed above 50% of their November 23, 2021 closing prices on a determination date. If and Moderna closed below 50% of their November 23, 2021 closing prices on a determination date, the notes did not pay a coupon. If not previously called, at maturity, the notes returned $10 in principal if and Moderna all closed on the final determination date on November 25, 2024 and above 50% of their November 23, 2021 closing prices. If on November 25, 2024 and Moderna closed below 50% of their November 23, 2021 closing prices, the notes paid reduced principal euqal to $10 multiplied by the lowest ratio of and Moderna November 25, 2024 closing prices to their November 23, 2021 closing prices. The notes have matured. They paid five coupons totaling $0.92500 and $1.58 repayment per $10 note. Investors thus suffered capital losses of $8.42 and net losses of $7.50.† In the aggregate, investors in this note suffered $6,476,888 in capital losses and $5,765,378 in net losses. See Table 1 and Figure 1.
SLCG Economic Consulting, LLC ("SLCG") specializes in finance, economics, and investment management consulting services. We offer expert witness services tailored to meet the needs of law firms, banks, brokerage firms, and individuals navigating complex litigation. Our team predominantly comprises PhD and MA-level professionals with varied backgrounds spanning academia, industry, and government. Numerous team members have offered expert testimony in state and federal courts, as well as in diverse arbitration forums. SLCG is a wholly owned subsidiary of McCann Yan Holdings, Inc., a Virginia incorporated company based in Northern Virginia.