Published on 8/3/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $4.22 million index-linked notes on Russell, S&P, Dow
By William Gullotti
Buffalo, N.Y., Aug. 3 – GS Finance Corp. priced $4.22 million of 0% index-linked notes due Aug. 3, 2023 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the return of each index is zero or positive, the payout at maturity will be par plus 156% of the gain of the least performing index.
If the least performing index falls by up to 5%, the payout will be par.
Otherwise, investors will be exposed to the decline of the worst performing index beyond 5%.
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: | Index-linked notes
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Underlying indexes: | Russell 2000 index, S&P 500 index, Dow Jones industrial average
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Amount: | $4,216,000
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Maturity: | Aug. 3, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the return of each index is zero or positive, par plus 156% of the return of the least performing index; if any index falls but the final underlier level of each is greater than or equal to the 95% trigger buffer level, par; if any index falls by more than 5%, investors will lose 1% for every 1% decline of the worst performing index beyond the buffer
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Initial levels: | 2,240.029 for Russell, 4,419.15 for S&P, 35,084.53 for Dow
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Trigger buffer levels: | 95% of initial levels
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Pricing date: | July 29
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Settlement date: | Aug. 3
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.8%
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Cusip: | 40057HWJ5
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