Published on 10/6/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.39 million callable contingent coupon index-linked notes
By William Gullotti
Buffalo, N.Y., Oct. 6 – GS Finance Corp. priced $1.39 million of callable contingent coupon index-linked notes due July 25, 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 6.65% 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 one year.
If each index finishes at or above trigger buffer level, 70% of initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% decline of the worst performer 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: | Callable contingent coupon index-linked notes
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Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
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Amount: | $1,385,000
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Maturity: | July 25, 2023
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Coupon: | 6.65% annualized rate, payable quarterly if each index closes at or above coupon trigger level, on valuation date for that period
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Price: | Par
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Payout at maturity: | If each index finishes at or above trigger buffer level, par plus final coupon; Otherwise, lose 1% for every 1% that the worst performer finishes below its initial level
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Call: | At par plus any coupon due on any quarterly call observation date after one year
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Initial index levels: | 4,323.06 for S&P, 2,194.298 for Russell, 14,728.21 for Nasdaq
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Trigger buffer levels: | 70% of initial levels
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Coupon trigger levels: | 70% of initial levels
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Pricing date: | July 20
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Settlement date: | July 23
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.25%
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Cusip: | 40057HX54
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