Published on 3/7/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.84 million leveraged buffered basket-linked notes on 25 stocks
By Kiku Steinfeld
Chicago, March 8 – GS Finance Corp. priced $2.84 million of 0% leveraged buffered notes due Feb. 27, 2023 linked an equally-weighted basket of shares of 25 companies, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The stocks – equally-weighted at 4% – are Allison Transmission Holdings, Inc., American Axle & Manufacturing Holdings, Inc., ArcelorMittal, Ballard Power Systems Inc., Blink Charging Co., BorgWarner Inc., Cummins Inc., Dana Inc., General Motors Co., Honda Motor Co., Ltd., Hyster-Yale Materials Handling, Inc., Lear Corp., Meritor, Inc., Nikola Corp., NIO Inc., Plug Power Inc., Sanmina Corp., Sensata Technologies Holding plc, Solaredge Technologies, Inc., Stellantis NV, Tata Motors Ltd., Tesla, Inc., Texas Instruments Inc., Toyota Motor Corp. and Workhorse Group Inc.
If the basket return is positive, the payout at maturity will be par plus 1.25 times the gain, subject to a maximum settlement amount of $1,196.875 per $1,000 of notes.
If the basket finishes flat or falls by up to 10%, the payout will be par. Otherwise, investors will lose 1.1111% for every 1% basket decline beyond 10%.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Leveraged buffered notes
|
| Underlying basket: | Allison Transmission Holdings, Inc., American Axle & Manufacturing Holdings, Inc., ArcelorMittal, Ballard Power Systems Inc., Blink Charging Co., BorgWarner Inc., Cummins Inc., Dana Inc., General Motors Co., Honda Motor Co., Ltd., Hyster-Yale Materials Handling, Inc., Lear Corp., Meritor, Inc., Nikola Corp., NIO Inc., Plug Power Inc., Sanmina Corp., Sensata Technologies Holding plc, Solaredge Technologies, Inc., Stellantis NV, Tata Motors Ltd., Tesla, Inc., Texas Instruments Inc., Toyota Motor Corp. and Workhorse Group Inc.; equally weighted
|
| Amount: | $2,839,000
|
| Maturity: | Feb. 27, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.25 times any basket gain, capped at par plus 19.6875%; par if basket finishes flat or falls by up to 10%; 1.1111% loss for every 1% basket decline beyond 10%
|
| Initial prices: | $37.92 for Allison, $9.42 for American Axle, $23.53 for ArceorMittal, $29.75 for Ballard, $38.79 for Blink, $44.88 for BorgWarner, $250.90 for Cummins, $23.32 for Dana, $51.11 for GM, $28.04 for Honda, $93.34 for Hyster-Yale, $169.79 for Lear, $31.35 for Meritor, $19.69 for Nikola, $49.11 for NIO, $46.58 for Plug Power, $35.35 for Sanmina, $58.59 for Sensata, $295.58 for Solaredge, $16.19 for Stellantis, $21.93 for Tata, $698.84 for Tesla, Inc., $172.85 for Texas Instruments,$152.73 for Toyota and $16.465 for Workhorse
|
| Pricing date: | Feb. 23
|
| Settlement date: | March 2
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 1.65%
|
| Cusip: | 40057FK60
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