Published on 3/23/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.19 million index-linked notes on Russell, Nasdaq
By Taylor Fox
New York, March 23 – GS Finance Corp. priced $1.19 million of 0% index-linked notes due March 15, 2023 linked to the least performing of the Nasdaq-100 index and the Russell 2000 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 lesser performing index, subject to a maximum settlement amount of $1,240.
If either index falls but the return of each index is at least negative 20%, the payout will be par plus the absolute value of the lesser performing index’s return..
If either index falls by more than 20%, investors will be exposed to the decline of the worst performing index beyond 20%.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Index-linked notes
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index
|
| Amount: | $1,194,000
|
| Maturity: | March 15, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the return of each index is zero or positive, par plus the return of the lesser performing index, up to maximum payment of $1,240; if either index falls but the return of each index is at least negative 20%, par plus the absolute value of the lesser performing index’s return; if either index falls by more than 20%, investors will be exposed to the decline of the worst performing index beyond 20%
|
| Initial levels: | 12,752.07 for Nasdaq, 2,285.683 for Russell
|
| Pricing date: | March 10
|
| Settlement date: | March 15
|
| Agent | Goldman Sachs & Co. LLC
|
| Fees: | 0.625%
|
| Cusip: | 40057FRD8
|
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