Published on 3/28/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $4.09 million capped buffer gears tied to weighted index basket
By William Gullotti
Buffalo, N.Y., March 28 – GS Finance Corp. priced $4.09 million of 0% capped buffer gears due Feb. 29, 2024 linked to a weighted 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 includes the Euro Stoxx 50 index with a 40% weight, the Nikkei 225 index with a 25% weight, the FTSE 100 index with a 17.5% weight, the Swiss Market index with a 10% weight and the S&P/ASX 200 index with a 7.5% weight.
If the basket return is greater than zero, the payout at maturity will be par of $10 plus two times the basket return, subject to a maximum return of 25.15%. Investors will receive par if the basket declines by 10% or less and will lose 1% for every 1% that the basket declines beyond 10%.
Goldman Sachs & Co. LLC is the underwriter with UBS Financial Services Inc. as selling agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Capped buffer gears
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| Underlying basket: | Euro Stoxx 50 (40% weight), Nikkei 225 (25% weight), FTSE 100 (17.5% weight), Swiss Market (10% weight), S&P/ASX 200 (7.5% weight)
|
| Amount: | $4,091,260
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| Maturity: | Feb. 29, 2024
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If basket return is greater than zero, par plus two times basket return, subject to maximum return of 25.15%; par if basket declines by 10% or less; 1% loss for every 1% that basket declines beyond 10%
|
| Initial levels: | 3,829.29 for Stoxx, 25,970.82 for Nikkei, 7,207.38 for FTSE, 11,636.76 for Swiss Market, 6,990.627 for S&P/ASX
|
| Buffer level: | 90% of initial level
|
| Pricing date: | Feb. 24
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| Settlement date: | Feb. 28
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| Underwriter: | Goldman Sachs & Co. LLC with UBS Financial Services Inc. as selling agent
|
| Fees: | 2%
|
| Cusip: | 36262Y573
|
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