Published on 3/28/2021 in the Prospect News Structured Products Daily.
New Issue: GS sells $4.37 million fixed-coupon index-linked notes on S&P, Russell
Chicago, March 29 – GS Finance Corp. priced $4.37 million of 8.2% fixed-coupon index-linked notes due June 2, 2022 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
Investors will receive par if neither index ever closes below 68.5% of its initial level during the life of the notes. Alternatively, if neither index closes below its initial level, investors will receive par.
Otherwise, investors will be exposed to the losses of the worst performer.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Fixed-coupon index-linked notes
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Underlying indexes: | Russell 2000 index and S&P 500 index
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Amount: | $4,366,000
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Maturity: | June 2, 2022
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Coupon: | 8.2% per year, payable monthly
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Price: | Par
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Payout at maturity: | Par if neither index ever closes below trigger buffer level, par if neither index closes below initial level at maturity; otherwise, exposure to losses of worst performer
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Initial levels: | 2,200.172 for Russell, 3,829.34 for S&P
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Buffer level: | 68.5% of initial levels
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Pricing date: | Feb. 25
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Settlement date: | March 2
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 0.85%
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Cusip: | 40057FHY3
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