Published on 12/9/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $4.39 million index-linked notes on S&P, Russell
By William Gullotti
Buffalo, N.Y., Dec. 9 – GS Finance Corp. priced $4.39 million of 0% index-linked notes due Dec. 11, 2023 linked to the least performing of 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.
If each index finishes at or above its initial, the payout at maturity will be par plus the return of the lesser performing index, subject to a maximum payout of par plus 22.25%.
If the worst performer declines but finishes at or above its trigger buffer level, 70% of initial level, the payout at maturity will be par plus the absolute value of that index’s return.
Otherwise, investors will be fully exposed to the decline of the worst performing index 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: | S&P 500 index, Russell 2000 index
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| Amount: | $4,385,000
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| Maturity: | Dec. 11, 2023
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If each index finishes at or above its initial level, the payout at maturity will be par plus the return of the lesser performing index capped at 22.25%; if the worst performer declines but finishes at or above trigger buffer level, par plus the absolute value of that index’s return; otherwise, investors will be fully exposed to the decline of the worst performing index from its initial level
|
| Initial levels: | 4,538.43 for S&P, 2,159.31 for Russell
|
| Trigger buffer levels: | 70% of initial levels
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| Pricing date: | Dec. 3
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| Settlement date: | Dec. 10
|
| Agent: | Goldman Sachs & Co. LLC
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| Fees: | None
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| Cusip: | 40057KEG4
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