Published on 12/3/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.21 million index-linked notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, Dec. 3 – GS Finance Corp. priced $2.21 million of 0% index-linked notes due Nov. 27, 2026 tied to the least performing of the Russell 2000 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 the greater of 11.7% and the return of the least-performing index 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 plus the absolute value of the return of the least performing index.
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: | Russell 2000 index, Nasdaq-100 index, Dow Jones industrial average
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| Amount: | $2,209,000
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| Maturity: | Nov. 27, 2026
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | Par plus greater of 11.7% and return of least-performing index if each index finishes at or above its initial level; if any index finishes below its initial level but each index finishes at or above its trigger level, par plus absolute value of return of least performing index; otherwise, 1% loss for every 1% decline of least performing index
|
| Initial levels: | 2,327.855 for Russell, 16,306.72 for Nasdaq-100, 35,813.8 for Dow
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| Trigger levels: | 70% of initial levels
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| Pricing date: | Nov. 23
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| Settlement date: | Nov. 29
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 3.83%
|
| Cusip: | 40057JXD3
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