Published on 6/14/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.12 million index-linked notes on Dow, S&P
By William Gullotti
Buffalo, N.Y., June 14 – GS Finance Corp. priced $1.12 million of 0% index-linked notes due May 28, 2026 linked to the least performing of the S&P 500 index and the Dow Jones industrial average, 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 par plus 1.293 times the return of the least performing index.
If the least performing index falls by up to 35%, the payout will be par.
Otherwise, investors will be fully exposed to any losses of the worst performing index beyond the 65% trigger buffer 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: | Index-linked notes
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Underlying indexes: | S&P 500 index, Dow Jones industrial average
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Amount: | $1,119,000
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Maturity: | May 28, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the return of each index is zero or positive, par plus 1.293 times the return of least performing index; if any index falls but the final underlier level of each is greater than or equal to the 65% trigger buffer level, par; if any index falls by more than 35%, investors will be fully exposed to the decline of the worst performing index
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Initial levels: | 4,159.12 for S&P, 34,084.15 for Dow
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Trigger buffer levels: | 65% of initial levels
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Pricing date: | May 20
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Settlement date: | May 27
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Agent: | Goldman Sachs & Co. LLC
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Fees: | None
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Cusip: | 40057HBD1
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