Published on 6/22/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.42 million callable contingent coupon index-linked notes
By William Gullotti
Buffalo, N.Y., June 22 – GS Finance Corp. priced $1.42 million of callable contingent coupon index-linked notes due March 16, 2023 tied to the Nasdaq-100 index, 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.
The notes will pay a contingent quarterly coupon at an annual rate of 6.6% if each index closes at or above the coupon trigger level, 60% of the initial level, on the valuation date for that period.
The notes are callable at par quarterly.
The payout at maturity will be par unless any index closes below its trigger level, 60% of its initial level, on any day during the life of the notes and the index return of any index is negative, in which case investors will be fully exposed to the losses of the least-performing index.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon index-linked notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
|
| Amount: | $1,415,000
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| Maturity: | March 16, 2023
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| Coupon: | 6.6% annualized rate, payable quarterly if each index closes at or above coupon trigger level on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any index closes below trigger level on any day during life of notes and return of any index is negative, in which case full exposure to losses of least-performing index
|
| Call option: | At par quarterly
|
| Initial index levels: | 4,247.44 for S&P, 2,335.808 for Russell, 13,998.3 for Nasdaq
|
| Trigger levels: | 60% of initial levels
|
| Coupon trigger levels: | 60% of initial levels
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| Pricing date: | June 11
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| Settlement date: | June 16
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.35%
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| Cusip: | 40057HLE8
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