Published on 5/1/2021 in the Prospect News Structured Products Daily.
New Issue: GS sells $1.61 million callable contingent coupon notes on S&P, Russell, S&P Value
Chicago, May 3 – GS Finance Corp. priced $1.61 million of callable contingent coupon index-linked notes due March 18, 2026 tied to the least performing of the S&P 500 Value index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 7% if each index closes above its 65% coupon barrier on the related observation date.
The notes will be callable at par on any quarterly observation date after one year.
The payout at maturity will be par if all the indexes finish above the 65% trigger buffer level.
Otherwise, investors will be fully exposed to the losses of the worst performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon index-linked notes
|
| Underlying indexes: | S&P 500 Value index, Russell 2000 index, S&P 500 index
|
| Amount: | $1,610,000
|
| Maturity: | March 18, 2026
|
| Coupon: | 7% annual rate, payable quarterly if each index closes above its coupon barrier on the related observation date
|
| Price: | Par
|
| Payout at maturity: | Par if all indexes finish above the trigger buffer level; otherwise, full exposure to the losses of the worst performing index
|
| Call option: | At par plus contingent coupon on any quarterly call observation date after one year
|
| Initial levels: | 3,968.94 for S&P, 1,403.20 for Value, 2,360.168 for Russell
|
| Coupon trigger levels: | 65% of initial levels
|
| Trigger buffer levels: | 65% of initial levels
|
| Pricing date: | March 15
|
| Settlement date: | March 18
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 1.1%
|
| Cusip: | 40057FR63
|
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