Published on 3/7/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.66 million callable contingent coupon notes on Russell, EAFE, S&P 500 Value
By Kiku Steinfeld
Chicago, March 8 – GS Finance Corp. priced $1.66 million of callable contingent coupon index-linked notes due Feb. 28, 2023 tied to the least performing of the S&P 500 Value index, the Russell 2000 index and the MSCI EAFE 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 9.05% if each index closes above its 70% coupon barrier on the related observation date.
The notes will be callable at par on any quarterly observation date.
The payout at maturity will be par if all the indexes finish above their 70% trigger buffer levels.
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.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Callable contingent coupon notes
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Underlying indexes: | S&P 500 Value index, Russell 2000 index and the MSCI EAFE index
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Amount: | $1,660,000
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Maturity: | Feb. 28, 2023
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Coupon: | 9.05%, payable quarterly if each index closes above its coupon barrier on the related observation date
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Price: | Par
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Payout at maturity: | Par if all indexes finish above their trigger buffer level; otherwise, full exposure to the losses of the worst performing index
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Call option: | At par plus contingent coupon on any quarterly call observation date
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Initial index levels: | 2,234.31 for EAFE, 2,231.314 for Russell, 1,339.08 for S&P
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Coupon trigger levels: | 70% of initial levels
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Trigger buffer levels: | 70% of initial levels
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Pricing date: | Feb. 23
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Settlement date: | Feb. 26
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 1.925%
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Cusip: | 40057FG40
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