Published on 1/6/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.03 million index-linked notes on Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, Jan. 6 – GS Finance Corp. priced $1.03 million of 0% index-linked notes due Dec. 29, 2025 tied to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes above its initial level, the payout will be par plus the return of the lesser performing index capped at 47%.
If the lesser performing index falls by up to 15%, the payout will be par plus the absolute value of that index’s return. Otherwise, investors will be exposed to the losses of the worst performer 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: | Index-linked notes
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| Underlying indexes: | Russell 2000, S&P 500
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| Amount: | $1,031,000
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| Maturity: | Dec. 29, 2025
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If each index finishes above its initial level, par plus return of lesser performing index capped at 47%; if laggard index falls by up to 15%, par plus absolute value of that index’s return; exposure to losses of worst performer beyond 15%
|
| Initial index levels: | 3,690.01 for S&P, 2,007.104 for Russell
|
| Pricing date: | Dec. 23
|
| Settlement date: | Dec. 29
|
| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 4.08%
|
| Cusip: | 40057ERV1
|
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