Published on 6/22/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $3 million buffer gears tied to index basket
By William Gullotti
Buffalo, N.Y., June 22 –GS Finance Corp. priced $3 million of 0% buffer gears due June 14, 2029 linked to a basket of 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 Dow Jones industrial average with a 35% weight, the S&P 500 index with a 20% weight, the S&P MidCap 400 index with a 18% weight, the Russell 2000 index with a 15% weight, the Euro Stoxx 50 index with a 9% weight and the MSCI Emerging Markets index with a 3% weight.
If the basket return is greater than zero, the payout at maturity will be par of $10 plus 1.1 times the basket return. Investors will receive par if the basket declines by 10% or less and will lose 1% for every 1% that the basket declines beyond 10%.
Goldman Sachs & Co. LLC is the underwriter with UBS Financial Services Inc. as selling agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Buffer gears
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| Underlying basket: | Dow Jones industrial average (35% weight), S&P 500 (20% weight), S&P MidCap 400 (18% weight), Russell 2000 (15% weight), Euro Stoxx 50 (9% weight) and MSCI Emerging Markets (3% weight)
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| Amount: | $3 million
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| Maturity: | June 14, 2029
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If basket return is greater than zero, par plus 1.1 times basket return; par if basket declines by 10% or less; 1% loss for every 1% that basket declines beyond 10%
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| Initial levels: | 34,479.6 for Dow, 4,247.44 for S&P 500, 2,752.17 for S&P MidCap, 2,335.808 for Russell, 4,126.7 for Stoxx, 1,381.99 for MSCI Emerging Markets
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| Buffer level: | 90% of initial level
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| Pricing date: | June 11
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| Settlement date: | June 16
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| Underwriter: | Goldman Sachs & Co. LLC with UBS Financial Services Inc. as selling agent
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| Fees: | 3.5%
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| Cusip: | 36260Y583
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