Published on 10/6/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $3.34 million index-linked notes on Russell, Nasdaq
By William Gullotti
Buffalo, N.Y., Oct. 6 – GS Finance Corp. priced $3.34 million of 0% index-linked notes due July 25, 2024 linked to the least performing of 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.
If the return of each index is zero or positive, the payout at maturity will be par plus double the return of the least performing index, subject to a maximum payout of par plus 31.7%.
If the least performing index falls by up to 20%, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline beyond 20%.
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
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Amount: | $3,337,000
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Maturity: | July 25, 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 return of the least performing index capped at 31.7%; if any index falls but the final underlier level of each is greater than or equal to the 80% trigger buffer level, par; if any index falls by more than 20%, investors will lose 1% for every 1% decline beyond the buffer
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Initial levels: | 2,194.298 for Russell, 14,728.21 for Nasdaq
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Trigger buffer levels: | 80% 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: | 40057HXC9
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