Published on 7/28/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $710,000 index-linked notes on S&P, Russell
By William Gullotti
Buffalo, N.Y., July 28 – GS Finance Corp. priced $710,000 of 0% index-linked notes due June 6, 2023 linked to the least 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 return of each index is zero or positive, the payout at maturity will be par plus 1.14 times the return of the least performing index capped at par plus 25.7%.
If the least performing index falls by up to 15%, the payout will be par plus 50% of the absolute return of that index.
Otherwise, investors will lose 1% for every 1% decline of the worst performer beyond the buffer.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Index-linked notes
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| Underlying indexes: | Russell 2000 index, S&P 500 index
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| Amount: | $710,000
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| Maturity: | June 6, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the return of each index is zero or positive, par plus 1.14 times the return of least performing index to a maximum return of par plus 25.7%; if any index falls but the final underlier level of each is greater than or equal to the 85% trigger buffer level, par plus half of the absolute return of the worst performer; if any index falls by more than 15%, investors will lose 1% for every 1% decline in the worst performer below 15%
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| Initial levels: | 2,294.742 for Russell, 4,202.04 for S&P
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| Trigger buffer levels: | 85% of initial levels
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| Pricing date: | June 1
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| Settlement date: | June 4
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 40057HFQ8
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