Published on 10/18/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $360,000 contingent coupon index-linked notes on Russell, Nasdaq
By William Gullotti
Buffalo, N.Y., Oct. 18 – GS Finance Corp. priced $360,000 of contingent coupon index-linked notes due July 31, 2023 tied to the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent semiannual coupon at an annual rate of 6.4% if each index closes at or above the coupon trigger level, 75% of the initial level, on the valuation date for that period.
If each index closes at or above 75% of initial value, the payout is par plus coupon.
If any index falls by more than 25%, investors will be exposed to any losses of the least-performing index.
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: | Contingent coupon index-linked notes
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Underlying indexes: | Russell 2000 index, Nasdaq-100 index
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Amount: | $360,000
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Maturity: | July 31, 2023
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Coupon: | 6.4% annualized rate, payable semiannually if each index closes at or above coupon trigger level, on valuation date for that period
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Price: | Par
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Payout at maturity: | If each index finishes at or above trigger buffer level, par plus coupon; if any index falls by more than 25%, full exposure to decline of worst performer from initial level
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Initial index levels: | 2,209.649 for Russell, 15,111.79 for Nasdaq
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Trigger buffer level: | 75% of initial levels
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Coupon trigger level: | 75% of initial levels
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Pricing date: | July 23
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Settlement date: | July 28
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Agent: | Goldman Sachs & Co. LLC
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Fees: | None
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Cusip: | 40057HTL4
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