Published on 6/22/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $3.07 million buffered PLUS linked to S&P 500
By William Gullotti
Buffalo, N.Y., June 22 – GS Finance Corp. priced $3.07 million of 0% buffered Performance Leveraged Upside Securities due Jan. 3, 2024 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 of $10 plus 200% of the index return, subject to a maximum payment of $11.40 per $10 notes. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10% to a minimum payout of $1 per security.
Goldman Sachs & Co. LLC is the underwriter. Morgan Stanley Wealth Management is acting as dealer.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Buffered Performance Leveraged Upside Securities
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Underlying index: | S&P 500 index
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Amount: | $3,067,000
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Maturity: | Jan. 3, 2024
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index gains, par plus 200% of index gain, subject to $11.40 maximum payment per $10 notes; par if index declines by 10% or less; 1% loss for every 1% that index declines beyond 10% to a minimum payout of $1 per security
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Initial level: | 4,247.44
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Buffer level: | 90% of initial level
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Pricing date: | June 11
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Settlement date: | June 16
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Underwriter: | Goldman Sachs & Co. LLC
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Dealer: | Morgan Stanley Wealth Management
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Fees: | 3%
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Cusip: | 36260Y260
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