Published on 7/23/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.53 million leveraged buffered basket-linked notes
By William Gullotti
Buffalo, N.Y., July 23 – GS Finance Corp. priced $2.53 million of 0% leveraged buffered notes due July 18, 2025 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index with a 45.91% weight, the S&P MidCap 400 index with a 10.72% weight, the IShares MSCI EAFE Small Cap ETF with a 9.56% weight, the MSCI Emerging Markets index with a 9.09% weight, the Euro Stoxx 50 index with an 8.71% weight, the Russell 2000 index with a 5.36% weight, Topix index with a 5.23% weight, the FTSE 100 index with a 3.87% weight and the S&P/ASX 200 index with a 1.55% weight.
The payout at maturity will be par plus 1.2 times the basket gain up with a maximum payout of par plus 35.4%.
Investors will receive par if the basket finishes flat or falls by up to 15% and will lose 1% for every 1% decline beyond 15%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Leveraged buffered basket-linked notes
|
| Underlying assets: | S&P 500 index (45.91%), S&P MidCap 400 index (10.72%), IShares MSCI EAFE Small Cap ETF (9.56%), MSCI Emerging Markets index (9.09%), Euro Stoxx 50 index (8.71%), Russell 2000 index (5.36%), Topix index (5.23%), FTSE 100 index (3.87%), S&P/ASX 200 index (1.55%)
|
| Amount: | $2,530,000
|
| Maturity: | July 18, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If basket return is positive, par plus 1.2 times basket gain, up to par plus 35.4%; par if basket finishes flat or declines by up to 15%; 1% loss for every 1% decline beyond 15%
|
| Initial levels: | 4,360.03 for S&P 500, 2,648.54 for S&P MidCap, $74.28 for EAFE Small Cap ETF, 1,348.48 for MSCI Emerging Markets, 4,056.39 for Stoxx 50, 2,190.293 for Russell, 1,939.61 for Topix, 7,012.02 for FTSE, 7,335.918 for S&P/ASX
|
| Buffer level: | 85% of initial level
|
| Pricing date: | July 15
|
| Settlement date: | July 20
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 1%
|
| Cusip: | 40057HUF5
|
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