Published on 8/10/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $2 million leveraged basket-linked notes
By William Gullotti
Buffalo, N.Y., Aug. 10 – GS Finance Corp. priced $2 million of 0% leveraged notes due July 31, 2025 linked to a weighted basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 45% weight, the S&P 500 index with a 25% weight, the iShares MSCI Emerging Markets ETF with a 20% weight and the FTSE 100 index with a 10% weight.
The payout at maturity will be par plus 1.51 times the basket gain, subject to a maximum payout of par plus 55%.
Investors will receive par if the basket finishes flat or falls by up to 25% and will lose 1% for every 1% of decline if it declines more than 25%.
The notes are guaranteed by Goldman Sachs Group, Inc.
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: | Leveraged basket-linked notes
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Underlying assets: | Euro Stoxx 50 index (45%), S&P 500 index (25%), iShares MSCI Emerging Markets ETF (20%), FTSE 100 index (10%)
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Amount: | $2 million
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Maturity: | July 31, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If basket return is positive, par plus 1.51 times basket gain, up to par plus 55%; par if basket finishes flat or declines by up to 25%; 1% loss for every 1% of basket decline from initial level
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Initial levels: | 4,103.03 for Stoxx, 4,400.64 for S&P, $51.84 for MSCI EM ETF, 7,016.63 for FTSE
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Buffer level: | 75% of initial level
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Pricing date: | July 28
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Settlement date: | July 30
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 2.95%
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Cusip: | 40057J2M7
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