Published on 9/1/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $726,000 contingent coupon index-linked notes on Nasdaq, Russell
By William Gullotti
Buffalo, N.Y., Sept. 1 – GS Finance Corp. priced $726,000 of contingent coupon index-linked notes due June 26, 2023 tied to the Russell 2000 index and the Nasdaq-100 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 semiannual coupon at an annual rate of 6.6% if each index closes at or above the coupon trigger level, 75% of the initial level, on the valuation date for that period.
If each index finishes at or above 75% of initial value, the payout at maturity will be par plus the final coupon.
If any index falls by more than 25%, investors will be exposed to the decline of the worst performer from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Contingent coupon index-linked notes
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index
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| Amount: | $726,000
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| Maturity: | June 26, 2023
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| Coupon: | 6.6% annualized rate, payable semiannually if each index closes at or above coupon trigger level, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above trigger buffer level, par plus coupon; otherwise, lose 1% for every 1% decline of worst performer from its initial level
|
| Initial index levels: | 2,237.745 for Russell, 14,049.58 for Nasdaq
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| Trigger buffer level: | 75% of initial levels
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| Coupon trigger level: | 75% of initial levels
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| Pricing date: | June 18
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| Settlement date: | June 23
|
| Agent: | Goldman Sachs & Co. LLC
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| Fees: | None
|
| Cusip: | 40057HJF8
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