Published on 10/7/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.88 million index-linked notes on S&P, Nasdaq, Dow
By Kiku Steinfeld
Chicago, Oct. 7 – GS Finance Corp. priced $1.88 million of 0% index-linked notes due July 3, 2026 tied to the least performing of the S&P 500 index, the Nasdaq-100 index and 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 payout at maturity will be par plus 1.5 times the least performing index’s return if each index finishes at or above its initial level.
If any index declines but each index finishes at or above its trigger level, 70% of its initial level, the payout will be par.
If any index finishes below its trigger level, investors will lose 1% for every 1% that the least performing index declines 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: | S&P 500 index, Nasdaq-100 index, Dow Jones industrial average
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Amount: | $1,884,000
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Maturity: | July 3, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.5 times the least performing index’s return if each index finishes at or above its initial level; par if any index declines but each index finishes at or above its trigger level; otherwise, 1% loss for every 1% decline of the least performing index
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Initial levels: | 4,297.50 for S&P, 14,554.80 for Nasdaq-100, 34,502.51 for Dow
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Trigger levels: | 70% of initial levels
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Pricing date: | June 30
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Settlement date: | July 6
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.87%
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Cusip: | 40057HH37
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