Published on 9/21/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $619,000 callable contingent coupon index-linked notes
By William Gullotti
Buffalo, N.Y., Sept. 21 – GS Finance Corp. priced $619,000 of callable contingent coupon index-linked notes due Jan. 18, 2023 tied to the Nasdaq-100 index, 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.
The notes will pay a contingent quarterly coupon at an annual rate of 6.6% if each index closes at or above the coupon trigger level, 70% of the initial level, on the valuation date for that period.
The notes may be called at par plus any coupon due on any quarterly call observation date after six months.
If the notes have not been called, the payout at maturity will be par unless any index closes below its 70% trigger value during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon index-linked notes
|
| Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
|
| Amount: | $619,000
|
| Maturity: | Jan. 18, 2023
|
| Coupon: | 6.6% annualized rate, payable quarterly if each index closes at or above coupon trigger level, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any index closes below its trigger value during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level
|
| Call: | At par plus any coupon due on any quarterly call observation date after six months
|
| Initial index levels: | 4,291.8 for S&P, 2,308.837 for Russell, 14,572.75 for Nasdaq
|
| Trigger buffer levels: | 70% of initial levels
|
| Coupon trigger levels: | 70% of initial levels
|
| Pricing date: | June 29
|
| Settlement date: | July 2
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 2.225%
|
| Cusip: | 40057HPW4
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
