Published on 3/23/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.09 million ETF-linked notes on five funds
By Taylor Fox
New York, March 23 – GS Finance Corp. priced $1.09 million of 0% ETF-linked notes due March 14, 2024 tied to the ARK Innovation ETF, the ARK Next Generation Internet ETF, the ARK Autonomous Technology & Robotics exchange-traded fund, the ARK Genomic Revolution ETF and the ARK Fintech Innovation ETF, 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 ETF is zero or positive, the payout at maturity will par plus two times the return of the lesser performing ETF.
If the lesser performing ETF falls by up to 40%, the payout will be par. If the lesser performing ETF falls by more than 40%, investors will be fully exposed to the decline of the lesser performing ETF.
Goldman, Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | ETF-linked notes
|
| Underlying ETFs: | ARK Innovation ETF, the ARK Next Generation Internet ETF, the ARK Autonomous Technology & Robotics ETF, the ARK Genomic Revolution ETF and the ARK Fintech Innovation ETF
|
| Amount: | $1,087,000
|
| Maturity: | March 14, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If laggard fund return is flat or positive, par plus two times laggard ETF return; if laggard ETF falls by up to 40%, par; otherwise, full exposure to losses of laggard ETF
|
| Initial values: | $121,75 for ARK Innovation, $151.15 for ARK Next Generation, $82.73 for ARK Autonomous, $87.99 for ARK Genomic and $51.94 for ARK Fintech
|
| Barrier levels: | 60% of initial levels
|
| Pricing date: | March 10
|
| Settlement date: | March 15
|
| Agent: | Goldman, Sachs & Co. LLC
|
| Fees: | 1.175%
|
| Cusip: | 40057FRR7
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
