Published on 12/13/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $230,000 index-linked notes on Russell, S&P
By Kiku Steinfeld
Chicago, Dec. 13 – GS Finance Corp. priced $230,000 of 0% index-linked notes due Nov. 29, 2023 tied to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its initial level, the payout will be par plus the return of the lesser performing index, capped at 13.5%.
If the lesser performing index falls by up to 15%, the payout will be par plus the absolute return of that index.
Otherwise, investors will lose 1% for every 1% decline of the lesser performing index beyond 15%.
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: | Russell 2000, S&P 500
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Amount: | $230,000
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Maturity: | Nov. 29, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes at or above its initial level, par plus return of lesser performing index, capped at 13.5%; if lesser performing index falls by up to 15%, par plus absolute return of that index; 1% loss for every 1% decline of lesser performing index beyond 15%
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Initial index levels: | 2,327.855 for Russell, 4,690.70 for S&P
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Buffer level: | 85% of initial index levels
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Pricing date: | Nov. 23
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Settlement date: | Nov. 29
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 2.8%
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Cusip: | 40057JZX7
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