Published on 7/19/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $585,000 index-linked notes on Russell, S&P
By William Gullotti
Buffalo, N.Y., July 19 – GS Finance Corp. priced $585,000 of 0% index-linked notes due June 1, 2026 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the return of each index is zero or positive, the payout at maturity will be par plus the return of the least performing index.
If the least performing index falls by up to 22.5%, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the worst performing index beyond the 22.5% buffer.
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: | Index-linked notes
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Underlying indexes: | Russell 2000 index, S&P 500 index
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Amount: | $585,000
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Maturity: | June 1, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the return of each index is zero or positive, par plus the return of the least performing index; if any index falls but the final underlier level of each is greater than or equal to the 77.5% trigger buffer level, par; if any index falls by more than 22.5%, investors will lose 1% for every 1% decline of the worst performing index beyond the 22.5% buffer
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Initial levels: | 2,273.073 for Russell, 4,200.88 for S&P
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Trigger buffer levels: | 77.5% of initial levels
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Pricing date: | May 27
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Settlement date: | June 2
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.82%
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Cusip: | 40057H5B2
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