Published on 3/5/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $20,000 notes linked to S&P 500, S&P 500 Value
By Kiku Steinfeld
Chicago, March 5 – GS Finance Corp. priced $20,000 of 0% index-linked notes due Feb. 26, 2026 tied to the S&P 500 index and the S&P 500 Value 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, subject to a maximum payout of $1,800 per $1,000 of notes.
If either index falls by up to 15%, the payout will be par. 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 agent.
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: | S&P 500 index and S&P 500 Value index
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Amount: | $20,000
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Maturity: | Feb. 26, 2026
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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 lesser-performing index’s return, up to $1,800 per $1,000 of notes; if either index falls by up to 15%, par; otherwise, 1% loss for every 1% decline of lesser-performing index beyond 15%
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Initial index levels: | 3,881.37 for S&P, 1,339.08 for S&P Value
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Buffer levels: | 85% of initial levels
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Pricing date: | Feb. 23
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Settlement date: | Feb. 26
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 4.725%
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Cusip: | 40057FCC6
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