Published on 4/4/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.76 million upside participation market-linked notes on S&P
By William Gullotti
Buffalo, N.Y., April 4 – GS Finance Corp. priced $1.76 million of 0% market-linked securities – upside participation to a cap and fixed percentage buffered downside due May 5, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus the gain in the index, capped at $1,630 per security.
If the index falls by up to 15%, the payout will be par.
Investors will lose 1% for every 1% decline of the index beyond the 15% buffer.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC and Wells Fargo Securities are agents.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Market-linked securities – upside participation to a cap and fixed percentage buffered downside
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Underlying index: | S&P 500 index
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Amount: | $1,760,000
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Maturity: | May 5, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus index gain, capped at $1,630 per security; if index falls by up to 15%, par; otherwise, 1% loss for every 1% decline of index beyond 15% buffer
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Initial share price: | 4,181.17
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Buffer level: | 85% of initial level
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Pricing date: | April 30, 2021
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Settlement date: | May 5, 2021
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Agent: | Goldman Sachs & Co. LLC and Wells Fargo Securities
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Fees: | 4.52%
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Cusip: | 40057FY40
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