Published on 5/18/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $335,000 callable contingent coupon notes on S&P, Russell, Nasdaq
By Kiku Steinfeld
Chicago, May 18 – GS Finance Corp. priced $335,000 of callable contingent coupon index-linked notes due April 30, 2026 tied to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 5% if each index closes above its 70% coupon barrier on the related observation date.
The notes will be callable at par on any quarterly observation date after one year.
The payout at maturity will be par if all the indexes finish above the 70% trigger buffer level.
Otherwise, investors will be fully exposed to the losses of the worst performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
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: | Callable contingent coupon notes
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Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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Amount: | $335,000
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Maturity: | April 30, 2026
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Coupon: | 5%, payable quarterly if each index closes above its coupon barrier on the related observation date
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Price: | Par
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Payout at maturity: | Par if all indexes finish above the trigger buffer level; otherwise, full exposure to the losses of the worst performing index
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Call option: | At par plus contingent coupon on any quarterly call observation date after one year
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Initial levels: | 4,186.72 for S&P 500, 2,301.267 for Russell, 13,960.28 for Nasdaq
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Coupon trigger levels: | 70% of initial levels
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Trigger buffer levels: | 70% of initial levels
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Pricing date: | April 27
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Settlement date: | April 30
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 4.125%
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Cusip: | 40057FV43
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