Published on 5/3/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $8.3 million index-linked notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, May 3 – GS Finance Corp. priced $8.3 million of 0% index-linked notes due May 26, 2022 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the return of each index is zero or positive, the payout at maturity will be par plus 1.5 times the return of the least performing index, up to $1,162 for each $1,000 face amount of of notes.
If the least performing index falls by up to 10%, the payout will be par.
Otherwise, investors will be exposed to any losses of the lesser-performing index beyond 10%.
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, Russell 2000 index
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Amount: | $8,299,000
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Maturity: | May 26, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the return of each index is zero or positive, par plus 1.5 times the return of least performing index up to $1,162 for each $1,000 face amount of notes; if either index falls but the return of each index is at least negative 10%, par; if either index falls by more than 10%, investors will be exposed to the decline of the worst performing index beyond 10%
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Initial levels: | 4,173.42 for S&P 500, 2,239.627 for Russell
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Pricing date: | April 22
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Settlement date: | April 27
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.6%
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Cusip: | 40057H3N8
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