Published on 6/22/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $4.23 million callable contingent coupon index-linked notes
By William Gullotti
Buffalo, N.Y., June 22 – GS Finance Corp. priced $4.23 million of callable contingent coupon index-linked notes due June 18, 2024 tied to the Nasdaq-100 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 4.7% if each index closes at or above the coupon trigger level, 60% of the initial level, on the valuation date for that period.
The notes are callable at par plus a coupon on any quarterly call observation date after six months.
If the notes are not called and each index finishes at or above 60% of initial value, the payout will be par.
If any index falls by more than 40%, investors will be fully exposed to the losses of the least-performing index.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon index-linked notes
|
| Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
|
| Amount: | $4,225,000
|
| Maturity: | June 18, 2024
|
| Coupon: | 4.7% annualized rate, payable quarterly if each index closes at or above coupon trigger level, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above trigger level, par; if any index falls by more than 40%, full exposure to losses of least-performing index
|
| Call option: | At par plus coupon quarterly after six months
|
| Initial index levels: | 4,247.44 for S&P, 2,335.808 for Russell, 13,998.3 for Nasdaq
|
| Trigger levels: | 60% of initial levels
|
| Coupon trigger levels: | 60% of initial levels
|
| Pricing date: | June 11
|
| Settlement date: | June 18
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | None
|
| Cusip: | 40057HL99
|
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