Published on 11/22/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $527,000 contingent coupon index-linked notes on three indexes
By William Gullotti
Buffalo, N.Y., Nov. 22 – GS Finance Corp. priced $527,000 of contingent coupon index-linked notes due Feb. 14, 2022 tied to the S&P 500 index, 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.
The notes will pay a contingent quarterly coupon at an annual rate of 3.2% if each index closes at or above the coupon trigger level, 65% of the initial level, on the valuation date for that period.
The payout at maturity will be par unless any index closes below its 60% trigger buffer level 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.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Contingent coupon index-linked notes
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index, S&P 500 index
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| Amount: | $527,000
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| Maturity: | Feb. 14, 2022
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| Coupon: | 3.2% 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: | Par unless any index closes below its 60% trigger buffer level 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
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| Initial index levels: | 2,247.761 for Russell, 15,109.36 for Nasdaq, 4,436.52 for S&P
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| Trigger buffer level: | 60% of initial levels
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| Coupon trigger level: | 65% of initial levels
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| Pricing date: | Aug. 6
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| Settlement date: | Aug. 11
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.36%
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| Cusip: | 40057J5A0
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