Published on 4/1/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $9.03 million capped trigger gears on Russell 2000, S&P 500
By Wendy Van Sickle
Columbus, Ohio, April 1 – GS Finance Corp. priced $9.03 million of 0% capped trigger gears due March 28, 2024 linked to the lowest 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 lowest performing index return is positive, the payout at maturity will be par plus 2 times the lowest performing index gain, capped at $14.12 per $10 face amount of notes.
If the lowest performing index finishes at or below the initial level but at or above the downside threshold, 75% of the initial level, the payout will be par.
Otherwise, investors will be fully exposed to the lowest performing index decline.
Goldman, Sachs & Co. LLC is the underwriter with UBS Financial Services Inc. as selling agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Capped trigger gears
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| Underlying indexes: | Russell 2000 and S&P 500
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| Amount: | $8,564,000
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| Maturity: | March 28, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 2 times any lowest performing index gain, capped at par plus 41.2%; par if lowest performing index finishes at or below the initial level but at or above downside threshold; otherwise, full exposure to lowest performing index decline
|
| Initial index level: | 3,974.54 for S&P, 2,221.482 for Russell
|
| Downside threshold: | 2,980.905 for S&P, 1,666.112 for Russell, 75% of initial levels
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| Pricing date: | March 26
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| Settlement date: | March 31
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| Underwriter: | Goldman, Sachs & Co. LLC with UBS Financial Services Inc. as selling agent
|
| Fees: | 2.675%
|
| Cusip: | 36259Y875
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