Published on 6/7/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $313,000 leveraged buffered notes on basket of ETFs, indexes
By Wendy Van Sickle
Columbus, Ohio, June 7 – GS Finance Corp. priced $313,000 of 0% leveraged buffered notes due May 9, 2023 linked a basket of exchange-traded funds and indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The basket includes the Invesco S&P 500 High Beta ETF (35% weight), the Russell 2000 index (20% weight), the Nasdaq-100 index (15% weight), the Euro Stoxx 50 index (15% weight) and the iShares MSCI Emerging Markets ETF (15% weight).
If the basket return is positive, the payout at maturity will be par plus 2 times the gain, subject to a maximum settlement amount of $1,170 per $1,000 of notes.
If the basket falls by up to 10%, the payout will be par. Otherwise, investors will lose 1% for every 1% index decline beyond 10%.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Leveraged buffered notes
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| Underlying basket: | Invesco S&P 500 High Beta ETF (35% weight), Russell 2000 index (20% weight), Nasdaq-100 index (15% weight), Euro Stoxx 50 index (15% weight) and iShares MSCI Emerging Markets ETF (15% weight)
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| Amount: | $313,000
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| Maturity: | May 9, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 2 times any basket gain, capped at par plus 17%; par if basket falls by up to 10%; otherwise, 1% loss for every 1% index decline beyond 10%
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| Initial levels: | $73.44 for Invesco S&P 500 | High Beta, 2,248.286 for Russell 2000, 13,544.67 for Nasdaq-100, 3,924.80 for Stoxx and $53.37 for iShares | MSCI Emerging Markets
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| Pricing date: | May 4
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| Settlement date: | May 7
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.8%
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| Cusip: | 40057H3V0
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