Published on 4/8/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $500,000 index-linked notes on Russell, S&P, Nasdaq
By William Gullotti
Buffalo, N.Y., April 8 – GS Finance Corp. priced $500,000 of 0% index-linked notes due Oct. 3, 2024 linked to the least performing of the Russell 2000 index, the S&P 500 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 the return of the least performing index, subject to a maximum return of par plus 32%.
If the least performing index falls by up to 20%, the payout will be par plus the absolute value of the worst performer’s return.
Otherwise, investors will lose 1% for every 1% decline of the worst performer below 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, S&P 500 index, Nasdaq-100 index
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| Amount: | $500,000
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| Maturity: | Oct. 3, 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 least performing index capped at 32%; if any index falls but the final underlier level of each is greater than or equal to the 80% trigger buffer level, par plus the absolute return of the worst performer; if any index falls by more than 20%, investors will lose 1% for every 1% decline of the worst performer below 20%
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| Initial levels: | 2,070.125 for Russell, 4,530.41 for S&P, 14,838.49 for Nasdaq
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| Trigger buffer levels: | 80% of initial levels
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| Pricing date: | March 31
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| Settlement date: | April 5
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 2.75%
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| Cusip: | 40057LNL1
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