Published on 4/21/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.49 million index-linked notes on Nasdaq, S&P
By Wendy Van Sickle
Columbus, Ohio, April 21 – GS Finance Corp. priced $1.49 million of 0% index-linked notes due April 5, 2023 linked to the lesser performing of 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 lesser performing index, subject to a maximum return of 30%.
If either index falls but the return of each index is at least negative 25%, the payout will be par plus the absolute value of the laggard index’s return.
If either index falls by more than 25%, investors will be exposed to the decline of the lesser performing index.
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: | Index-linked notes
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Underlying indexes: | Nasdaq-100 index, S&P 500
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Amount: | $1,486,000
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Maturity: | April 5, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If return of each index is zero or positive, par plus return of lesser performing index, subject to 30% cap; if either index falls but return of each index is at least negative 25%, par plus absolute value of laggard index’s return; if either index falls by more than 25%, exposure to decline of lesser performing index
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Initial levels: | 13,091.44 for Nasdaq and 3,972.89 for S&P
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Pricing date: | March 31
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Settlement date: | April 5
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | Up to 1.225%
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Cusip: | 40057FMV3
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