Published on 1/8/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.53 million index-linked notes on Nasdaq, S&P
By Kiku Steinfeld
Chicago, Jan. 8 – GS Finance Corp. priced $1.53 million of 0% index-linked notes due Jan. 5, 2023 tied to the least performing of the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The payout at maturity will be par plus the least performing index’s return if each index finishes at or above its initial level, up to the maximum amount of $1,220 per $1,000 note. Investors will receive par plus the absolute value of the least performing index return if that index falls by up to 25%. If any index finishes below its 75% trigger level, investors will lose 1% for every 1% that the least performing index declines 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, Nasdaq-100 index
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Amount: | $1,527,000
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Maturity: | Jan. 5, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus the least performing index’s return if each index finishes at or above its initial level, up to the maximum amount of $1,220 per note; par plus absolute value of least performing index return if least performing index falls by up to trigger level; otherwise, 1% loss for every 1% decline of the least performing index
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Initial levels: | 3,732.04 for S&P, 12,845.36 for Nasdaq
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Trigger levels: | 75% of initial levels
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Pricing date: | Dec. 30
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Settlement date: | Jan. 5
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Agent: | Goldman Sachs & Co. LLC
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Fees: | Up to 1.225%
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Cusip: | 40057EPV3
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