Published on 6/21/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $792,000 index-linked notes on Russell, S&P
By Kiku Steinfeld
Chicago, June 21 – GS Finance Corp. priced $792,000 of 0% index-linked notes due May 24, 2023 tied to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes above its initial level, the payout will be par plus the return of the lesser-performing index, subject to a cap of $1,198 per $1,000 of notes.
If either index falls by up to 20%, the payout will be par plus the absolute value of the lesser-performing index’s return. Otherwise, investors will lose 1% for every 1% decline of the lesser-performing index beyond 20%.
The notes are guaranteed by Goldman Sachs Group, Inc.
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: | Index-linked notes
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Underlying indexes: | Russell 2000 and S&P 500
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Amount: | $792,000
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Maturity: | May 24, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes above its initial level, par plus the gain of the lesser-performing index, up to a cap of $1,198 per $1,000 of notes; if either index falls by up to 20%, par plus the absolute value of the index decline; otherwise, 1% loss for every 1% decline of lesser-performing index beyond 20%
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Initial index levels: | 4,155.86 for S&P, 2,215.268 for Russell
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Buffer levels: | 80% of initial levels
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Pricing date: | May 21
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Settlement date: | May 26
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.8%
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Cusip: | 40057HDC1
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