Published on 7/16/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.46 million underlier-linked notes on indexes, ETF
By William Gullotti
Buffalo, N.Y., July 16 – GS Finance Corp. priced $1.46 million of 0% underlier-linked notes due June 5, 2029 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the Invesco S&P 500 High Beta ETF, 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 quarterly contingent coupon of 6.2% annually if each underlier is at or above the coupon trigger level on the corresponding observation date.
At maturity, if each underlier finishes at or above the 60% trigger level, the payout will be par plus the final coupon. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
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 underlier-linked notes
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Underlying assets: | Nasdaq-100 index, Russell 2000 index, Invesco S&P 500 High Beta ETF
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Amount: | $1,459,000
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Maturity: | June 5, 2029
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Coupon: | Payable quarterly at an annual rate of 6.2% if each underlier is at or above the coupon trigger level on the corresponding observation date
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Price: | Par
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Payout at maturity: | Par plus coupon if each underlier finishes above trigger level; otherwise, full exposure to decline of worst performer from initial level
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Initial levels: | 13,702.74 for Nasdaq, 2,249.274 for Russell, $75.85 for ETF
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Trigger levels: | 60% of initial levels
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Pricing date: | May 26
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Settlement date: | June 1
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 4.25%
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Cusip: | 40057HEH9
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