Published on 7/7/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $37,000 leveraged notes tied to index basket
By Kiku Steinfeld
Chicago, July 7 – GS Finance Corp. priced $37,000 of 0% leveraged notes due Jan. 26, 2023 linked to an equally weighted basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Russell 2000 Value index, the S&P 500 Value index and the S&P MidCap 400 Value index.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the basket return is positive, the payout at maturity will be par plus 2 times the basket return, capped at $1,130 per $1,000 of notes.
If the basket declines by no more than 15%, the payout will be par. Otherwise, investors will be fully exposed to the decline of the basket from its initial level.
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: | Leveraged notes
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Underlying indexes: | Russell 2000 Value index, S&P 500 Value index, S&P MidCap 400 Value index, equally weighted
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Amount: | $37,000
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Maturity: | Jan. 26, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 2 times any basket gain, capped at $1,130 per $1,000 of notes; par if basket declines but finishes at or above barrier level; otherwise, full exposure to decline from initial level
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Initial levels: | 1,518.46 S&P 500, 2,456.541 for Russell, 867.36 for S&P MidCap
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Barrier levels: | 85% of initial levels
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Pricing date: | Dec. 22, 2021
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Settlement date: | Dec. 28, 2021
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.68%
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Cusip: | 40057KCR2
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