Published on 2/24/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1 million index-linked notes on S&P, Dow
By William Gullotti
Buffalo, N.Y., Feb. 24 – GS Finance Corp. priced $1 million of 0% index-linked notes due April 27, 2026 linked to the least performing of the Dow Jones industrial average and the S&P 500 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 the return of the least performing index, capped at $1,750 per $1,000 note.
If the least performing index falls by up to 15.8%, the payout will be par.
Otherwise, investors will be fully exposed to any losses of the worst performing index beyond the 15.8% 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: | Dow Jones industrial average, S&P 500 index
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Amount: | $1 million
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Maturity: | April 27, 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 the return of least performing index, capped at $1,750 per note; if any index falls but the final underlier level of each is greater than or equal to the 84.2% buffer level, par; if any index falls by more than 15.8%, investors will be exposed to the decline of the worst performing index beyond the 15.8% buffer level
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Initial levels: | 33,815.9 for Dow, 4,134.98 for S&P
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Buffer levels: | 84.2% of initial levels
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Pricing date: | April 22, 2021
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Settlement date: | April 27, 2021
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 4.125%
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Cusip: | 40057H3E8
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