Published on 10/26/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $3 million index-linked notes on S&P, Stoxx
By Wendy Van Sickle
Columbus, Ohio, Oct. 26 – GS Finance Corp. priced $3 million of 0% index-linked notes due Oct. 2, 2024 linked to the lesser performing of the S&P 500 index and the Euro Stoxx 50 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 triple the return of the least performing index, subject to a maximum payout of par plus 53.25%.
If the least performing index falls by up to 25%, the payout will be par. Otherwise, investors will be fully exposed to the losses of the worst performing index from its initial 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, Euro Stoxx 50 index
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Amount: | $3 million
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Maturity: | Oct. 2, 2024
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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 three times the return of the least performing index capped at 53.25%; if any index falls but the final underlier level of each is greater than or equal to the 75% trigger buffer level, par; if any index falls by more than 25%, investors will be fully exposed to the decline of the worst performing index from its initial level
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Initial levels: | 4,443.11 for S&P, 4,165.48 for Stoxx
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Trigger buffer levels: | 75% of initial levels
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Pricing date: | Sept. 27
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Settlement date: | Sept. 30
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 2.75%
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Cusip: | 40057JNH5
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