Published on 2/10/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $292,000 leveraged notes on basket of ETFs
By Kiku Steinfeld
Chicago, Feb. 10 – GS Finance Corp. priced $292,000 of 0% leveraged basket-linked notes due March 3, 2023 tied to an equally weighted basket comprised of the Industrial Select Sector SPDR fund, the Financial Select Sector SPDR fund and the Technology Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the basket return is positive, the payout at maturity will be par plus double the gain, capped at 12%.
If the basket finishes flat or falls by up to 15%, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
Goldman, Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Leveraged basket-linked notes
|
| Underlying basket: | Industrial Select Sector SPDR fund, the Financial Select Sector SPDR fund and the Technology Select Sector SPDR fund, equally weighted
|
| Amount: | $292,000
|
| Maturity: | March 3, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 2 times any basket gain, capped at 12%; par if basket finishes flat or falls by up to 15%; otherwise, full exposure to losses
|
| Initial basket level: | $100.74 for Industrial, $39.06 for Financial, $161.97 for Technology
|
| Pricing date: | Jan. 31
|
| Settlement date: | Feb. 3
|
| Underwriter: | Goldman, Sachs & Co. LLC
|
| Fees: | 0.68%
|
| Cusip: | 40057KMD2
|
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