Published on 5/19/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.27 million index-linked notes on S&P, Russell
By Kiku Steinfeld
Chicago, May 19 – GS Finance Corp. priced $2.27 million of 0% index-linked notes due April 30, 2026 linked to the least performing of the S&P 500 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 1.15 times the return of the least performing index.
If the least performing index falls by up to 35%, the payout will be par.
Otherwise, investors will be exposed to the losses of the lesser-performing index.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Index-linked notes
|
| Underlying indexes: | S&P 500 index, Russell 2000 index
|
| Amount: | $2,270,000
|
| Maturity: | April 30, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If return of each index is zero or positive, par plus1.15 times return of least performing index; if either index falls but return of each index is at least negative 35%, par; if either index falls by more than 35%, investors will be exposed to decline of worst performing index
|
| Initial levels: | 4,186.72 for S&P, 2,301.267 for Russell
|
| Threshold level: | 65% of initial levels
|
| Pricing date: | April 27
|
| Settlement date: | April 30
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 3.9%
|
| Cusip: | 40057FUZ5
|
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