Published on 8/11/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.73 million index-linked notes on Russell, S&P, Stoxx
By William Gullotti
Buffalo, N.Y., Aug. 11 – GS Finance Corp. priced $2.73 million of 0% index-linked notes due Aug. 11, 2026 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 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 the greater of par plus 45% and par plus the return of the least performing index.
If the least performing index falls by up to 30%, the payout will be par plus the absolute value of the worst performer’s return.
Otherwise, investors will be fully exposed to any losses of the worst performing index from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Index-linked notes
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| Underlying indexes: | Russell 2000 index, S&P 500 index, Euro Stoxx 50 index
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| Amount: | $2,273,000
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| Maturity: | Aug. 11, 2026
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If the return of each index is zero or positive, the greater of par plus 45% and par plus the return of the least performing index; if any index falls but the final underlier level of each is greater than or equal to the 70% trigger buffer level, par plus the absolute return of the worst performer; if any index falls by more than 30%, investors will be fully exposed to the decline of the worst performing index from its initial level
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| Initial levels: | 2,247.761 for Russell, 4,436.52 for S&P, 4,174.54 for Stoxx
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| Trigger buffer levels: | 70% of initial levels
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| Pricing date: | Aug. 6
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| Settlement date: | Aug. 11
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| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 4.15%
|
| Cusip: | 40057J2J4
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