Published on 12/4/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $6.05 million trigger step securities on S&P 500, Russell 2000
Chicago, Dec. 4 – GS Finance Corp. priced $6.05 million of 0% trigger step securities due March 31, 2026 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the laggard index finishes at or above the initial level, the payout at maturity will be par of $10 plus the greater of the laggard index’s return and 37.45%.
Investors will receive par if the laggard index falls by up to 25% and will be fully exposed to all losses if the laggard index finishes below the 75% downside threshold level.
Goldman Sachs & Co. is the underwriter with UBS Financial Services Inc. as selling agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Trigger step securities
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Underlying indexes: | S&P 500 index, Russell 2000 index
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Amount: | $6,051,790
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Maturity: | March 31, 2026
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If the laggard index finishes at or above the initial level, par plus the greater of the laggard index’s return and 37.45%; par if the laggard index falls by up to 25%; full exposure to losses if the laggard index finishes below the 75% downside threshold level
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Initial index levels: | 3,974.54 for S&P, 2,221.482 for Russell
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Threshold levels: | 2,980.905 for S&P, 1,666.112 for Russell; 75% of initial levels
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Pricing date: | March 26
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Settlement date: | March 31
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Underwriter: | Goldman Sachs & Co. LLC with UBS Financial Services Inc. as selling agent
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Fees: | 3.85%
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Cusip: | 36259Y883
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