Published on 7/21/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.14 million index-linked notes on Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, July 21 – GS Finance Corp. priced $2.14 million of 0% index-linked notes due June 2, 2023 tied to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its initial level, the payout will be par plus the lesser-performing index’s return up to par plus 20%.
If the lesser-performing index falls by up to 15%, the payout will be par plus the absolute value of the return of the laggard index.
Otherwise, investors will lose 1% for every 1% decline of the lesser-performing index beyond 15%.
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: | Index-linked notes
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Underlying indexes: | Russell 2000 index, S&P 500 index
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Amount: | $2,143,000
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Maturity: | June 2, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes at or above its initial level, par plus the lesser-performing index’s return up to par plus 20%; if the lesser-performing index falls by up to 15%, par plus absolute value of return of laggard index; otherwise, 1% loss for every 1% decline of the lesser-performing index beyond 15%
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Initial index levels: | 2,273.073 for Russell and 4,200.88 for S&P
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Pricing date: | May 27
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Settlement date: | June 2
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 0.68%
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Cusip: | 40057H4Y3
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