Published on 8/18/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $6.95 million underlier-linked notes on indexes, ETF
By William Gullotti
Buffalo, N.Y., Aug. 18 – GS Finance Corp. priced $6.95 million of 0% underlier-linked notes due June 19, 2025 linked to the lesser performing of the Russell 2000 index, the Dow Jones industrial average 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.
If each underlier finishes at or above its respective initial level, the payout at maturity will be par plus 1.12 times the return of the worst performer.
If any underlier finishes below its initial level, but none decline by more than 40%, the payout at maturity will be par. Otherwise, investors will lose 1.6667% for every 1% decline of the worst performer beyond 40%.
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: | Underlier-linked notes
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| Underlying assets: | Russell 2000 index, Dow Jones industrial average, Invesco S&P 500 High Beta ETF
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| Amount: | $6,949,000
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| Maturity: | June 19, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If all underliers finish above initial levels, par plus 1.12 times the return of the worst performer; if any underlier finishes below its initial level, but all finish at or above buffer levels, par; otherwise, investors will lose 1.6667% for every 1% decline of the worst performer below the buffer
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| Initial levels: | 2,314.691 for Russell, 34,033.67 for Dow, $76.47 for ETF
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| Coupon trigger levels: | 60% of initial levels
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| Trigger buffer levels: | 60% of initial levels
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| Pricing date: | June 16
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| Settlement date: | June 21
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 0.35%
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| Cusip: | 40057HN22
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