Published on 8/12/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $3 million index-linked notes on three indexes
By William Gullotti
Buffalo, N.Y., Aug. 12 – GS Finance Corp. priced $3 million of 0% index-linked notes due May 17, 2024 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Nasdaq-100 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 the greater of par plus the gain of the least performing index and $1,372 per note.
If the least performing index falls by up to 25%, the payout will be par.
Otherwise, investors will be fully exposed to any losses of the worst performing index beyond the 75% trigger buffer level.
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, Nasdaq-100 index
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Amount: | $3,000,000
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Maturity: | May 17, 2024
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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, the greater of par plus the return of least performing index and $1,372; if any index falls but the final underlier level of each is greater than or equal to the 75% trigger buffer level, par; if any index falls by more than 25%, investors will be fully exposed to the decline of the worst performing index
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Initial levels: | 2,224.63 for Russell, 4,173.85 for S&P, 13,393.12 for Nasdaq
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Trigger buffer levels: | 75% of initial levels
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Pricing date: | May 14
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Settlement date: | May 19
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.1%
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Cusip: | 40057HBJ8
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