Published on 3/6/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1 million index-linked notes on S&P, Russell
By Kiku Steinfeld
Chicago, March 8 – GS Finance Corp. priced $1 million of 0% index-linked notes due Feb. 26, 2026 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the return of each index is zero or positive, the payout at maturity will be par plus 1.11 times the return of the lesser performing index, subject to the maximum settlement amount of $1,600 for each $1,000 face amount of notes.
If either index falls but the return of each index is at least negative 15%, the payout will be par plus the absolute value of the laggard index.
If either index falls by more than 15%, investors will be fully exposed to the decline of the worse performing index beyond 15%
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: | S&P 500, Russell 2000
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| Amount: | $1,001,000
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| Maturity: | Feb. 26, 2026
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If the return of each index is zero or positive, par plus 1.1 times the return of the lesser performing index, subject to the maximum settlement amount of $1,600 for each $1,000 face amount of notes; if either index falls but the return of each index is at least negative 15%, par plus absolute value of return of lesser performing index; if either index falls by more than 15%, investors will be fully exposed to the decline of the worse performing index beyond 15%
|
| Initial levels: | 3,881.37 for S&P, 2,231.314 for Russell
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| Buffer level: | 85% of initial level
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| Pricing date: | Feb. 23
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| Settlement date: | Feb. 26
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| Agent | Goldman, Sachs & Co. LLC
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| Fees: | 4.1%
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| Cusip: | 40057FC51
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