Published on 2/17/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.15 million index-linked notes on Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, Feb. 17 – GS Finance Corp. priced $1.15 million of 0% index-linked notes due Feb. 10, 2026 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 above its initial level, the payout will be par plus the greater of 38.25% and the return of the lesser-performing index.
If either index falls by up to 20%, the payout will be par. Otherwise, investors will lose 1% for every 1% decline of the lesser-performing index.
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 and S&P 500
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Amount: | $1,154,000
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Maturity: | Feb. 10, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus greater of 38.25% and gain of lesser-performing index; if either index falls by up to 20%, par; otherwise, 1% loss for every 1% decline of lesser-performing index
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Initial index levels: | 3,886.83 for S&P and 2,233.327 for Russell
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Pricing date: | Feb. 5
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Settlement date: | Feb. 10
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 4.45%
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Cusip: | 40057FAR5
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