Published on 3/18/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $14.96 million 13.15% callable fixed-coupon notes on Nasdaq, Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, March 18 – GS Finance Corp. priced $14.96 million 13.15% callable fixed-coupon notes due March 10, 2022 linked to the least performing of the S&P 500 index, the Nasdaq-100 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.
Interest is payable monthly.
The notes will be callable at par plus the coupon on any monthly call date after six months.
The payout at maturity will be par unless any index finishes below its initial level and any index ever closes below 70% of its initial level during the life of the notes, in which case investors will lose 1% for every 1% decline of the least performing index.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable fixed-coupon notes
|
| Underlying indexes: | S&P 500 index, Nasdaq-100 index, Russell 2000
|
| Amount: | $14,961,000
|
| Maturity: | March 10, 2022
|
| Coupon: | 13.15%, payable monthly
|
| Price: | Par
|
| Call: | At par plus the coupon on any monthly call date after six months
|
| Payout at maturity: | If the notes are not subject to an automatic call, the payout at maturity will be par unless any index finishes below its initial level and any index ever closes below its trigger level during the life of the notes, in which case investors will lose 1% for every 1% decline of the least performing index
|
| Initial levels: | 3,841.94 for S&P, 12,668.51 for Nasdaq and 2,192.212 for Russell
|
| Trigger levels: | 70% of initial levels
|
| Pricing date: | March 5
|
| Settlement date: | March 10
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 0.35%
|
| Cusip: | 40057FFX7
|
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