By William Gullotti
Buffalo, N.Y., April 4 – GS Finance Corp. priced $1.73 million of callable contingent coupon index-linked notes due May 5, 2026 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 5% if the index closes at or above the coupon trigger level, 70% of the initial level, on the valuation date for that period.
The notes may be called at the option of the issuer on any quarterly payment date after one year.
If the notes are not called and the index closes at or above 60% of initial value, the payout will be par plus any coupon due.
If the index falls by more than 40%, investors will be fully exposed to any losses.
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: | Callable contingent coupon index-linked notes
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Underlying index: | S&P 500 index
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Amount: | $1,734,000
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Maturity: | May 5, 2026
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Coupon: | 5% annualized rate, payable quarterly if the index closes at or above coupon trigger level, on valuation date for that period
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Price: | Par
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Payout at maturity: | If the index finishes at or above trigger buffer level, par; if the index falls by more than 40%, full exposure to losses
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Call option: | At par plus any coupon at the option of the issuer on any quarterly payment date after one year
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Initial index level: | 4,181.17
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Coupon trigger level: | 70% of initial level
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Trigger buffer level: | 60% of initial level
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Pricing date: | April 30, 2021
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Settlement date: | May 5, 2021
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.87%
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Cusip: | 40057FWU4
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