Published on 12/3/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $535,000 callable contingent coupon index-linked notes
By William Gullotti
Buffalo, N.Y., Dec. 3 – GS Finance Corp. priced $535,000 of callable contingent coupon index-linked notes due Aug. 8, 2024 tied to the Nasdaq-100 Technology Sector index, the S&P 500 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 annual rate of 7% if each index closes at or above the coupon trigger level, 75% of the initial level, on the valuation date for that period.
The notes may be called at par plus any coupon due on any quarterly call observation date after one year.
If the notes have not been called, the payout at maturity will be par plus the final coupon unless any index finishes below its 75% trigger buffer, in which case investors will lose 1% for every 1% that the worst performer finishes below 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: | Callable contingent coupon index-linked notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 Technology Sector index
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| Amount: | $535,000
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| Maturity: | Aug. 8, 2024
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| Coupon: | 7% annualized rate, payable quarterly if each index closes at or above coupon trigger level, on valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless any index finishes below trigger buffer level, in which case investors will be fully exposed to the decline of the worst performer from its initial level
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| Call: | At par plus any coupon due on any quarterly call observation date after one year
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| Initial index levels: | 4,460.83 for S&P, 2,244.073 for Russell, 8,849.589 for Nasdaq Tech
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| Trigger buffer levels: | 75% of initial levels
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| Coupon trigger levels: | 75% of initial levels
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| Pricing date: | Aug. 12
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| Settlement date: | Aug. 17
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 40057J6T8
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