Published on 3/25/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.87 index-linked notes on Dow, Russell, Nasdaq
By Taylor Fox
New York, March 25 – GS Finance Corp. priced $1.87 million of 0% index-linked notes due March 17, 2026 linked to the least performing of the Nasdaq-100 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the return of each index is zero or positive, the payout at maturity will be the greater of $1,325 and the sum of par plus the lesser performing index return.
If any index falls but the return of each index is at least negative 30%, the payout will be par plus the absolute value of the least performing index’s return.
If any index falls by more than 30%, investors will be exposed to the decline of the worst performing index from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Index-linked notes
|
| Underlying indexes: | Nasdaq-100 index, Dow Jones industrial average, Russell 2000 index
|
| Amount: | $1,869,000
|
| Maturity: | March 17, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the return of each index is zero or positive, the greater of $1,325 and the sum of par plus the lesser performing index return; if any index falls but the return of each index is at least negative 30%, par plus absolute value of least performing index’s return; if any index falls by more than 30%, investors will be exposed to the decline of the worst performing index from its initial level
|
| Initial levels: | 12,937.29 for Nasdaq, 32,778.64 for Dow, 2,352.789 for Russell
|
| Pricing date: | March 12
|
| Settlement date: | March 17
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 4.475%
|
| Cusip: | 40057FRF3
|
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