Published on 6/22/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $2.31 million buffered index-linked notes on S&P 500
By Kiku Steinfeld
Chicago, June 22 – GS Finance Corp. priced $2.31 million of 0% buffered index-linked notes due May 25, 2023 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the index return is positive, the payout at maturity will be par plus the index return, capped at the maximum settlement amount of $1,172 for each $1,000 principal amount of notes.
Investors will receive par if the index falls by up to 15% and lose 1% for every 1% decline in the index beyond 15%.
Goldman Sachs & Co. LLC is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Buffered index-linked notes
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Underlying index: | S&P 500
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Amount: | $2,305,000
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Maturity: | May 25, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index return is positive, par plus the index return capped at $1,172 for each $1,000 principal amount of notes; par if the index falls by up to 15%; 1% loss for every 1% decline in the index beyond 15%
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Initial index level: | 3,401.2
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Buffer level: | 85% of initial levels
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Pricing date: | May 21
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Settlement date: | May 26
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 0%
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Cusip: | 40057HE22
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