Published on 5/2/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $5.1 million trigger absolute return step securities on S&P, Russell
By Kiku Steinfeld
Chicago, May 3 – GS Finance Corp. priced $5.1 million of 0% trigger absolute return step securities due April 20, 2026 linked to 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 final level of the laggard index is greater than or equal to its initial index level, the payout at maturity will be par of $10 plus the greater of the step return of 23% and the laggard index return.
If the final level of the laggard index is less than the initial level but greater than or equal to the downside threshold level, 75% of the initial level, the payout will be par plus the absolute value of the laggard index return.
If the final laggard index level is less than the downside threshold level, investors will lose 1% for every 1% that the final level of that index is less than the initial level.
Goldman, Sachs & Co. LLC is the underwriter with UBS Financial Services Inc. as selling agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Trigger absolute return step securities
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $5,104,660
|
| Maturity: | April 20, 2026
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the final lesser-performing index level is greater than or equal to its initial level, par plus the greater of 23% and lesser-performing index return; if the final lesser-performing index level is less than the initial level but greater than or equal to the downside threshold, par plus the absolute value of lesser-performing index return; otherwise, investors will lose 1% for every 1% that the final lesser-performing index level is less than the initial level
|
| Initial index levels: | 2,257.068 for Russell, 4,170.42 for S&P
|
| Downside thresholds: | 1,692.801 for Russell, 3,127.815 for S&P, 75% of initial levels
|
| Pricing date: | April 15
|
| Settlement date: | April 20
|
| Underwriter: | Goldman, Sachs & Co. LLC with UBS Financial Services Inc. as selling agent
|
| Fees: | 3.5%
|
| Cusip: | 36260W280
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
