Published on 2/14/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.56 million index-linked notes on Russell, Dow, Nasdaq
By William Gullotti
Buffalo, N.Y., Feb. 14 – GS Finance Corp. priced $2.56 million of 0% index-linked notes due Feb. 13, 2025 linked to the least performing of the Russell 2000 index, the Dow Jones industrial average and the Nasdaq-100 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 par plus 107.8% of the least performing index’s return.
If the least performing index falls by up to 20%, the payout will be par plus the absolute value of the worst performer’s return.
Otherwise, investors will lose 1% for every 1% decline of the worst performer beyond 20%.
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: | Russell 2000 index, Dow Jones industrial average, Nasdaq-100 index
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| Amount: | $2.56 million
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| Maturity: | Feb. 13, 2025
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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 107.8% of the least performing index’s return; if any index falls but the final underlier level of each is greater than or equal to the 80% trigger buffer level, par plus the absolute return of the worst performer; if any index falls by more than 20%, investors will be exposed to the decline of the worst performing index below trigger buffer level
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| Initial levels: | 2,083.499 for Russell, 35,768.06 for Dow, 15,056.96 for Nasdaq
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| Trigger buffer levels: | 80% of initial levels
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| Pricing date: | Feb. 9
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| Settlement date: | Feb. 14
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 40057L3A7
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