Published on 11/22/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.67 million callable contingent coupon notes on Stoxx, Russell, Nasdaq
By Kiku Steinfeld
Chicago, Nov. 22 – GS Finance Corp. priced $1.67 million of callable contingent coupon index-linked notes due Aug. 10, 2023 linked to the least performing of the Nasdaq-100 index, the Euro Stoxx 50 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.
The notes will pay a contingent quarterly coupon at an annualized rate of 8.4% if each index closes at or above its 60% coupon trigger level on the determination date for that period.
The notes may be called at par plus any contingent coupon due at the issuer’s option on any quarterly coupon payment date.
The payout at maturity will be par unless any index closes below 60% of its initial level during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for each 1% decline of the least-performing index.
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: | Callable contingent coupon index-linked notes
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Underlying indexes: | Euro Stoxx 50 index, Russell 2000 index, Nasdaq-100 index
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Amount: | $1,673,000
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Maturity: | Aug. 10, 2023
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Contingent coupon: | 8.4% per year, payable quarterly if each index closes at or above coupon trigger level on determination date
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Price: | Par
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Payout at maturity: | Par unless any index closes below 60% of initial level during life of notes and any index finishes below initial level, in which case 1% loss for each 1% decline of least-performing index
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Call: | At par plus any contingent coupon at issuer’s option on any quarterly coupon payment date
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Initial index levels: | 2,437.083 for Russell, 4,363.04 for Stoxx, 16,359.38 for Nasdaq
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Coupon trigger levels: | 60% of initial levels
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Trigger levels: | 60% of initial levels
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Pricing date: | Nov. 5
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Settlement date: | Nov. 10
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.68%
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Cusip: | 40057K2T9
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