Published on 1/9/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $582,000 index-linked notes on S&P 500, S&P Value
By Kiku Steinfeld
Chicago, Jan. 11 – GS Finance Corp. priced $582,000 of 0% index-linked notes due Jan. 5, 2024 tied to the S&P 500 index and the S&P 500 Value index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.05 times the worst performer if each index finishes at or above its initial level. If either index falls but not below 90% of its initial level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the least performing index declines beyond the 10% buffer.
The notes are guaranteed by Goldman Sachs Group, Inc.
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 and S&P 500 Value index
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Amount: | $582,000
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Maturity: | Jan. 5, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.05 times worst performing index if each index finishes at or above its initial level; par if either index falls but neither index finishes below 90% of its initial level; otherwise, 1% loss for every 1% decline of least performing index beyond 10% buffer
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Initial levels: | 3,732.04 for S&P 500, 1,256.06 for S&P 500 Value
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Pricing date: | Dec. 30
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Settlement date: | Jan. 5
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Agent: | Goldman Sachs & Co. LLC
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Fees: | Up to 1.75%
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Cusip: | 40057EPT8
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