Published on 3/23/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.29 million index-linked notes on Nasdaq, Dow, S&P
By Wendy Van Sickle
Columbus, Ohio, March 23 – GS Finance Corp. priced $1.29 million of 0% index-linked notes due March 3, 2026 tied to the Nasdaq-100 index, the Dow Jones industrial average and 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 all indexes finish above their initial levels, the payout at maturity will be par plus 1.6 times the return of the worst performer.
If any index falls by up to 30%, the payout at maturity will be par plus the absolute value of the worst performer.
If any index falls by more than 30%, investors will be exposed to any losses of the least-performing index.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Index-linked notes
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| Underlying indexes: | Nasdaq-100, Dow Jones industrial average, S&P 500
|
| Amount: | $1,287,000
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| Maturity: | March 3, 2026
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.6 times return of worst performer; if any index falls by up to 30%, par plus absolute value of worst performer; if any index falls by more than 30%, par plus return of least-performing index, with full exposure to losses
|
| Initial index levels: | 30,923.37 for Dow, 12,909.44 for Nasdaq and 3,811.15 for S&P
|
| Pricing date: | Feb. 26
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| Settlement date: | March 3
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 1.07%
|
| Cusip: | 40057FCJ1
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