Published on 2/4/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $258,000 leveraged market-linked notes on basket
By Kiku Steinfeld
Chicago, Feb. 4 – GS Finance Corp. priced $258,000 of 0% market-linked notes with leveraged upside participation to a cap and fixed percentage buffered downside due Sept. 3, 2025 linked to an unequally weighted basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The basket consists of the Dow Jones industrial average with a 50% weight, the MSCI EAFE index with a 30% weight and the MSCI Emerging Markets index with a 20% weight.
The payout at maturity will be par plus 1.1 times any basket gain, capped at par plus 33.15%. Investors will receive par if the basket falls by up to 10% and will lose 1% for every 1% decline beyond the 10% buffer.
Goldman Sachs & Co. LLC and Wells Fargo Securities, LLC.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Market-linked notes with leveraged upside participation to a cap and fixed percentage buffered downside
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| Underlying basket: | Dow Jones industrial average (50% weight), MSCI EAFE index (30% weight) and MSCI Emerging Markets index (20% weight)
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| Amount: | $258,000
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| Maturity: | Sept. 3, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 1.1 times any basket gain, capped at par plus 33.15%; par if the basket falls by up to 10%; 1% loss for every 1% decline beyond the 10% buffer
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| Initial value: | 35,360.73 for Dow, 2,356.42for EAFE, 1,308.67 for EM
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| Buffer value: | 90% of initial basket level
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| Pricing date: | Aug. 31
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| Settlement date: | Sept. 3
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| Agents: | Goldman Sachs & Co. LLC and Wells Fargo Securities, LLC
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| Fees: | 3.825%
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| Cusip: | 40057HYU8
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