By Kiku Steinfeld
Chicago, July 12– GS Finance Corp. priced $2 million of 0% capped in-GEARS due Oct. 5, 2026 tied to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The initial index level will be the average of the index’s closing levels on each day during the period from and including June 24, 2021 to and including Sept. 22, 2021.
The final index level will be the average of the index’s closing levels on each day during the period from and including July 1, 2026 to and including Sept. 30, 2026.
If the index finishes at or above its 89% downside threshold, the payout will be par plus 1.07% for each 1% by which the final level of the index exceeds the downside threshold, subject to a maximum settlement amount of $14.28 per $10.00 note.
If the index finishes below 89% of its initial level, investors will lose 1% for every 1% decline of the index beyond 11%.
Goldman Sachs & Co. LLC is the agent with UBS Financial Services Inc. as selling agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Capped in-GEARS
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| Underlying index: | Dow Jones industrial average
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| Amount: | $2 million
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| Maturity: | Oct. 5, 2026
|
| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If the index finishes at or above the downside threshold, par plus 1.07% for each 1% by which the final level of the index exceeds the downside threshold, subject to maximum return of 42.8%; otherwise, 1% loss for every 1% decline beyond 11%
|
| Initial level: | Average of index’s closing levels on each day during the period from and including June 24, 2021 to and including Sept. 22, 2021
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| Final level: | Average of index’s closing levels on each day during the period from and including July 1, 2026 to and including Sept. 30, 2026
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| Downside threshold: | 89% of initial level
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| Pricing date: | June 29
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| Settlement date: | June 30
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| Agent: | Goldman Sachs & Co. LLC with UBS Financial Services Inc. as selling agent
|
| Fees: | 0.5%
|
| Cusip: | 36261B111
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