Published on 6/18/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $4.77 million callable contingent coupon notes on Nasdaq, Russell, Dow
By Kiku Steinfeld
Chicago, June 18 – GS Finance Corp. priced $4.77 million of callable contingent coupon notes due June 11, 2026 linked to the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at a rate of 5.8% per year if each index closes at or above its 70% coupon trigger level on the related quarterly determination date.
The notes will be callable at par on any quarterly determination date after one year.
The payout at maturity will be par unless any index finishes below 60% of its initial level, in which case investors will be fully exposed to the decline of the least performing index from its initial level.
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: | Callable contingent coupon notes
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index and Dow Jones industrial average
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| Amount: | $4.77 million
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| Maturity: | June 11, 2026
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| Contingent coupon: | 5.8% annualized, payable each quarter that each index closes at or above 70% coupon trigger level on the determination date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below 60% of its initial level, in which case investors will be fully exposed to the decline of the least performing index from its initial level
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| Call option: | At par on any quarterly determination date after one year
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| Initial index levels: | 34,599.82 for Dow, 13,810.86 for Nasdaq, 2,343.758 for Russell
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| Coupon barriers: | 70% of initial levels
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| Final barriers: | 60% of initial levels
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| Pricing date: | June 8
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| Settlement date: | June 11
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 40057HKX7
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