Published on 4/4/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.08 million callable contingent coupon index-linked notes
By William Gullotti
Buffalo, N.Y., April 4 – GS Finance Corp. priced $1.08 million of callable contingent coupon index-linked notes due May 6, 2024 tied to 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 5.5% 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 on any quarterly coupon payment date after one year.
If the notes are not called and each index closes at or above 60% of initial value, the payout will be par.
If any index falls by more than 40%, investors will be fully exposed to any losses of the least-performing index.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon index-linked notes
|
| Underlying indexes: | S&P 500 index, Russell 2000 index
|
| Amount: | $1,080,000
|
| Maturity: | May 6, 2024
|
| Coupon: | 5.5% annualized rate, payable quarterly if each index closes at or above coupon trigger level, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above trigger buffer level, par; if any index falls by more than trigger buffer level, full exposure to losses of worst performer
|
| Call option: | At par plus any coupon on any quarterly coupon payment date after one year
|
| Initial index levels: | 4,181.17 for S&P, 2,266.449 for Russell
|
| Coupon trigger levels: | 70% of initial levels
|
| Trigger buffer levels: | 60% of initial levels
|
| Pricing date: | April 30, 2021
|
| Settlement date: | May 5, 2021
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.5%
|
| Cusip: | 40057FV84
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
