Published on 3/10/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $6.2 million fixed-coupon index-linked notes on S&P, Russell
By Kiku Steinfeld
Chicago, March 10 – GS Finance Corp. priced $6.2 million of 6.25% fixed-coupon index-linked notes due March 23, 2022 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par if each index closes at or above its 80% trigger level.
If either index falls by more than 20%, investors will lose 1.25% for each 1% decline beyond the 20% buffer level of the worst performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Fixed-coupon index-linked notes
|
| Underlying indexes: | Russell 2000 index and S&P 500 index
|
| Amount: | $6,200,000
|
| Maturity: | March 23, 2022
|
| Coupon: | 6.25% per year, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par if each index closes at or above its 80% buffer level; otherwise, 1.25% loss for each 1% decline beyond the 20% buffer level of the worst performer
|
| Initial levels: | 2,231.314 for Russell, 3,881.37 for S&P
|
| Buffer level: | 80% of initial levels
|
| Pricing date: | Feb. 24
|
| Settlement date: | March 1
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 0.1%
|
| Cusip: | 40057FM43
|
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