Published on 2/4/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.78 million index-linked notes on S&P, Russell
By William Gullotti
Buffalo, N.Y., Feb. 4 – GS Finance Corp. priced $1.78 million of 0% index-linked notes due Feb. 5, 2024 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 the return of each index is zero or positive, the payout at maturity will be par plus the return of the lesser performing index, subject to a maximum payout of par plus 30%.
If the least performing index falls by up to 15%, the payout will be par plus the absolute value of that index’s return. Otherwise, investors lose 1% for every 1% decline of the worst performer below 15%.
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: | $1.78 million
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| Maturity: | Feb. 5, 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 the return of the lesser performing index capped at 30%; if any index falls but the final underlier level of each is greater than or equal to the 85% trigger buffer level, par plus the absolute value of the lesser-performing index’s return; if any index falls by more than 15%, investors will lose 1% for every 1% decline of the worst performer below trigger buffer level
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| Initial levels: | 4,515.55 for S&P, 2,028.453 for Russell
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| Trigger buffer levels: | 85% of initial levels
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| Pricing date: | Jan. 31
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| Settlement date: | Feb. 3
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.76%
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| Cusip: | 40057KM75
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