Published on 8/25/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.98 million index-linked notes on Dow, S&P
By Taylor Fox
New York, Aug. 25 – GS Finance Corp. priced $1.98 million of 0% index-linked notes due Feb. 24, 2023 tied to the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.25 times the return of the laggard index if each index finishes at or above its initial level, up to $1,280 per $1,000 note.
Investors will receive par if the laggard index falls by up to 10%. Otherwise, investors will lose 1% for every 1% that the least performing index declines beyond 10%.
The notes are guaranteed by Goldman Sachs Group, Inc.
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: | Dow Jones industrial average, S&P 500 index
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Amount: | $1,984,000
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Maturity: | Feb. 24, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.25 times the return of the laggard index if each index finishes at or above its initial level, up to $1,280 per note; par if the laggard index falls by up to buffer; if either index falls by over 10%, 1% loss for each 1% decline beyond the buffer
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Initial index levels: | 3,906.71 for S&P, 31,494.32 for Dow
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Buffer levels: | 90% of initial levels
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Pricing date: | Feb. 19
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Settlement date: | Feb. 24
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 1.175%
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Cusip: | 40057FJP0
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