Published on 12/23/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $8.76 million buffered PLUS linked to S&P 500
By William Gullotti
Buffalo, N.Y., Dec. 23 – GS Finance Corp. priced $8.76 million of 0% buffered Performance Leveraged Upside Securities due June 5, 2024 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the index return is positive, the payout at maturity will be par of $10 plus 200% of the index return, subject to a maximum payment of $11.655 per $10 principal amount of notes. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
Goldman Sachs & Co. LLC is the underwriter. Morgan Stanley Wealth Management is acting as dealer.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Buffered Performance Leveraged Upside Securities
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Underlying index: | S&P 500 index
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Amount: | $8,756,100
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Maturity: | June 5, 2024
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index gains, par plus 200% of index gain, subject to $11.655 maximum payment per $10 principal amount of notes; par if index declines by 10% or less; 1% loss for every 1% that index declines beyond 10%
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Initial level: | 4,567.0
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Buffer level: | 90% of initial level
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Pricing date: | Nov. 30
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Settlement date: | Dec. 3
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Underwriter: | Goldman Sachs & Co. LLC
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Dealer: | Morgan Stanley Wealth Management
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Fees: | 3%
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Cusip: | 36261U747
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