Published on 8/27/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $615,000 callable contingent coupon notes on Dow, Russell, Invesco S&P
By Wendy Van Sickle
Columbus, Ohio, Aug. 27 – GS Finance Corp. priced $615,000 of callable contingent coupon index-linked notes due June 26, 2024 linked to the least performing of the Invesco S&P 500 High Beta ETF, the Dow Jones industrial average 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.
The notes will pay a contingent monthly coupon at an annualized rate of 10.5% if each index closes at or above its 85% coupon trigger level on the determination date for that period.
The notes may be called at par plus any contingent coupon due at the issuer’s option on any coupon payment date after three months.
The payout at maturity will be par unless any index finishes below 85% of its initial level, in which case investors will lose 1% for each 1% decline of the least performing asset beyond 15%.
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: | Callable contingent coupon index-linked notes
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index, Invesco S&P 500 High Beta ETF
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| Amount: | $615,000
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| Maturity: | June 26, 2024
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| Contingent coupon: | 10.5% per year, payable monthly if each index closes at or above coupon trigger level on determination date
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below buffer level, in which case investors will lose 1% for each 1% decline of least performing | asset beyond 15%
|
| Call: | At par plus any contingent coupon at issuer’s option on any coupon payment date after three months
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| Initial index levels: | 2,286.093 for Russell, 33,876.97 for Dow., $74.72 for Invesco S&P
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| Coupon trigger levels: | 85% of initial levels
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| Buffer levels: | 85% of initial levels
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| Pricing date: | June 21
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| Settlement date: | June 24
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 40057HNC0
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