Published on 9/3/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $6.49 million leveraged buffered notes on index basket
By Kiku Steinfeld
Chicago, Sept. 3 – GS Finance Corp. priced $6.49 million of 0% leveraged buffered notes due Aug. 21, 2024 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The basket consists of the Euro Stoxx 50 index with a 36% weight, the FTSE 100 index with a 16% weight, the Topix index with a 29% weight, the Swiss Market index with an 11% weight and the S&P/ASX 200 index with an 8% weight.
If the basket return is positive, the payout at maturity will be par plus 2 times the basket return, subject to a maximum settlement amount of $1,331 per $1,000 principal amount.
Investors will receive par if the basket declines by 10% or less and will lose 1.1111% for every 1% that the basket declines beyond 10%.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Leveraged buffered notes
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| Underlying indexes: | Euro Stoxx 50 (36% weight), FTSE 100 (16% weight), Topix index (29% weight), Swiss Market index (11% weight) and S&P/ASX 200 (8% weight)
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| Amount: | $6,486,000
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| Maturity: | Aug. 21, 2024
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If basket return is positive, par plus 2 times the basket return, capped at payout of $1,331 per $1,000 principal amount; par if basket declines by 10% or less; 1.1111% loss for every 1% that the basket declines beyond 10%
|
| Initial index levels: | 4,124.71 for Euro Stoxx, 1,897.19 for Topix, 7,058.86 for FTSE, 12,403.58 for Swiss Market, 7,464.637 for S&P/ASX
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| Pricing date: | Aug. 19
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| Settlement date: | Aug. 26
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 2.55%
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| Cusip: | 40057JAM8
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