Published on 9/17/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.27 million index-linked notes on three indexes
By Kiku Steinfeld
Chicago, Sept. 17 – GS Finance Corp. priced $2.27 million of 0% index-linked notes due June 30, 2026 tied to the least performing of the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The payout at maturity will be the greater of $1,200 and par plus the return of the least-performing index if each index finishes at or above its initial level.
If any index declines but each index finishes at or above its trigger level, 70% of its initial level, the payout will be par plus the absolute value of the return of the least-performing index.
If any index finishes below its trigger level, investors will lose 1% for every 1% that the least performing index declines from its initial level.
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, Nasdaq-100 index, Dow Jones industrial average
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| Amount: | $2,266,000
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| Maturity: | June 30, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | The greater of $1,200 and par plus the return of the least-performing index if each index finishes at or above its initial level; if any index finishes below its initial level but each index finishes at or above its trigger level, par plus the absolute value of the worst performer’s return; otherwise, 1% loss for every 1% decline of the least performing index
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| Initial levels: | 2,334.396 for Russell, 14,345.18 for Nasdaq-100, 34,433.84 for Dow
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| Trigger levels: | 70% 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: | 4.02%
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| Cusip: | 40057HGF1
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