Published on 7/1/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $12.54 million trigger gears on S&P, Russell
By William Gullotti
Buffalo, N.Y., July 1 – GS Finance Corp. priced $12.54 million of 0% trigger gears due June 30, 2026 linked to the lesser performing of 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.
If the index return is positive, the payout at maturity will be par plus 1.3085 times the least performing index gain.
If the least performing index finishes at or below the initial level but at or above the downside threshold, 75% of the initial level, the payout will be par.
Otherwise, investors will be fully exposed to the least performing index decline.
Goldman Sachs & Co. LLC is the underwriter with UBS Financial Services Inc. as the selling agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Trigger gears
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Underlying indexes: | S&P 500 index, Russell 2000 index
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Amount: | $12,538,990
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Maturity: | June 30, 2026
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 1.3085 times the least performing index gain; par if least performing index finishes flat or falls by up to 25%; otherwise, full exposure to least performing index decline from its initial level
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Initial index level: | 4,280.7 for S&P, 2,334.396 for Russell
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Downside threshold levels: | 3,210.525 for S&P, 1,750.797 for Russell; 75% of initial levels
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Pricing date: | June 25
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Settlement date: | June 30
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Underwriter: | Goldman Sachs & Co. LLC with UBS Financial Services Inc. as selling agent
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Fees: | 3.5%
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Cusip: | 36260Y658
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