Published on 1/8/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $6.62 million 5.7% fixed-coupon notes on S&P, Russell
By Kiku Steinfeld
Chicago, Jan. 8 – GS Finance Corp. priced $6.62 million 5.7% fixed-coupon index-linked notes due Jan. 5, 2022 linked to the lesser 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.
Interest is payable monthly.
The payout at maturity will be par unless either index closes below the buffer level, 80% of its initial level, in which case investors will lose 1.25% for every 1% decline of the least performing index beyond 20%.
Goldman Sachs & Co. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Fixed-coupon index-linked notes
|
| Underlying indexes: | S&P 500, Russell 2000
|
| Amount: | $6,615,000
|
| Maturity: | Jan. 5, 2022
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| Coupon: | 5.7%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless either index closes below buffer level, in which case 1.25% loss for every 1% decline of least performer beyond 20%
|
| Initial levels: | 3,727.04 for S&P and 1,959.363 for Russell
|
| Buffer levels: | 80% of initial levels
|
| Pricing date: | Dec. 30
|
| Settlement date: | Jan. 5
|
| Underwriter: | Goldman Sachs & Co.
|
| Fees: | 0.1%
|
| Cusip: | 40057F2B9
|
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