Published on 12/22/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.89 million leveraged participation market-linked notes on basket
By William Gullotti
Buffalo, N.Y., Dec. 22 – GS Finance Corp. priced $2.89 million of 0% market-linked securities – leveraged upside participation and contingent downside due Dec. 3, 2025 linked to a weighted basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Dow Jones industrial average with a 50% weight, the S&P MidCap 400 index with a 30% weight and the Russell 2000 index with a 20% weight.
If the basket finishes at or above its initial level, the payout at maturity will be par plus 1.1 times the return, subject to a maximum payout of par plus 32%.
If the basket declines by up to 10%, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the basket declines beyond 10%.
The securities are guaranteed by Goldman Sachs Group, Inc.
Wells Fargo Securities LLC and Goldman Sachs & Co. LLC are the agents.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Market-linked securities – leveraged upside participation and contingent downside
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| Underlying indexes: | Dow Jones industrial average (50% weight), S&P MidCap 400 index (30% weight), Russell 2000 index (20% weight)
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| Amount: | $2,891,000
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| Maturity: | Dec. 3, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the basket finishes at or above initial level, par plus 1.1 times the return capped at 32%; if the basket declines by up to 10%, par; otherwise, lose 1% for every 1% decline beyond 10%
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| Initial levels: | 34,483.72 for Dow Jones, 2,708.65 for S&P MidCap, 2,198.908 for Russell
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| Buffer level: | 90% of initial level
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| Pricing date: | Nov. 30
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| Settlement date: | Dec. 3
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| Agent: | Wells Fargo Securities LLC and Goldman Sachs & Co. LLC
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| Fees: | 3.88%
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| Cusip: | 40057JZ74
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