Published on 9/10/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $643,000 index-linked notes on S&P, Russell
By William Gullotti
Buffalo, N.Y., Sept. 10 – GS Finance Corp. priced $643,000 of 0% index-linked notes due March 28, 2024 linked to the least performing of the S&P 500 index 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.
If the return of each index is zero or positive, the payout at maturity will be par plus double the gain of the least performing index, subject to a maximum payout of $1,210 per $1,000 principal amount of notes.
If the least performing index falls by up to 15%, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the worst performer below 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: | Index-linked notes
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Underlying indexes: | S&P 500 index, Russell 2000 index
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Amount: | $643,000
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Maturity: | March 28, 2024
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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 two times the gain of the least performing index, capped at par plus 21%; if any index falls but the final underlier level of each is greater than or equal to the 85% trigger buffer level, par; if any index falls by more than 15%, investors will lose 1% for every 1% decline of the worst performer below the buffer
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Initial levels: | 4,280.7 for S&P, 2,334.396 for Russell
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Trigger buffer levels: | 85% of initial levels
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Pricing date: | June 25
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Settlement date: | June 30
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 2.81%
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Cusip: | 40057HFW5
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