Published on 9/21/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $700,000 index-linked notes on Russell, S&P, Nasdaq
By William Gullotti
Buffalo, N.Y., Sept. 21 – GS Finance Corp. priced $700,000 of 0% index-linked notes due July 6, 2023 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 par plus the return of the least performing index, subject to a maximum payout of par plus 20%.
If the least performing index falls by up to 28.3%, the payout will be par plus the absolute value of the worst performer’s return.
Otherwise, investors will be fully exposed to any losses of the worst performing index from its initial 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: | $700,000
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| Maturity: | July 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 the return of the least performing index capped at 20%; if any index falls but the final underlier level of each is greater than or equal to the 71.7% trigger buffer level, par plus the absolute return of the worst performer; if any index falls by more than 28.3%, investors will be fully exposed to the decline of the worst performing index from its initial level
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| Initial levels: | 2,322.336 for Russell, 4,290.61 for S&P, 14,524.98 for Nasdaq
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| Trigger buffer levels: | 71.7% of initial levels
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| Pricing date: | June 29
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| Settlement date: | July 2
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 40057HT26
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