Published on 9/10/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $814,000 index-linked notes on S&P 500, Stoxx 50
By William Gullotti
Buffalo, N.Y., Sept. 10 – GS Finance Corp. priced $814,000 of 0% index-linked notes due June 30, 2026 linked to the least performing of the S&P 500 index and the Euro Stoxx 50 index, 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 the greater of par plus 25% and par plus the return of the least performing index.
If the least performing index falls by up to 35%, the payout will be par plus the absolute value of the worst performer’s return.
Otherwise, investors will be fully exposed to any losses of the worst performing index from its initial level.
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: | S&P 500 index, Euro Stoxx 50 index
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Amount: | $814,000
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Maturity: | June 30, 2026
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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, the greater of par plus 25% and par plus 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 65% trigger buffer level, par plus the absolute return of the worst performer; if any index falls by more than 35%, investors will be fully exposed to the decline of the worst performing index from its initial level
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Initial levels: | 4,280.7 for S&P, 4,120.66 for Stoxx
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Trigger buffer levels: | 65% of initial levels
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Pricing date: | June 25
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Settlement date: | June 30
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 4.04%
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Cusip: | 40057HGG9
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