Published on 7/14/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $4.75 million index-linked notes on S&P, Russell
By Kiku Steinfeld
Chicago, July 14 – GS Finance Corp. priced $4.75 million of 0% index-linked notes due May 29, 2026 linked to the lesser 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 the return of the lesser performing index
If either index falls but the return of each index is at least negative 15%, the payout will be par.
If either index falls by more than 15%, investors will be fully exposed to the decline of the worse performing index beyond 15%.
Goldman, Sachs & Co. 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, Russell 2000
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Amount: | $4,745,000
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Maturity: | May 29, 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 return of the lesser performing index; if either index falls but return of each index is at least negative 15%, par; if either index falls by more than 15%, full exposure to decline of least performing index beyond 15%
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Initial levels: | 4,188.13 for S&P and 2,205.750 for Russell
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Buffer level: | 85% of initial levels
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Pricing date: | May 25
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Settlement date: | May 28
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Underwriter: | Goldman Sachs & Co.
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Fees: | 3.75%
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Cusip: | 40057H4U1
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