Published on 3/11/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.05 million index-linked notes on Nasdaq, S&P, Dow
By William Gullotti
Buffalo, N.Y., March 11 – GS Finance Corp. priced $2.05 million of 0% index-linked notes due Sept. 12, 2023 linked to the least performing of the Nasdaq-100 index, the S&P 500 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.
If the return of each index is zero or positive, the payout at maturity will be par plus 200% of the least performing index’s return, subject to a maximum payout of par plus 25.5%.
If the least performing index falls by up to 10%, the payout will be par plus the absolute value of the worst performer’s return.
Otherwise, investors will lose 1% for every 1% decline of the worst performer below 10%.
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: | Nasdaq-100 index, S&P 500 index, Dow Jones industrial average
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| Amount: | $2.05 million
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| Maturity: | Sept. 12, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the return of each index is zero or positive, par plus 200% of the least performing index’s return capped at 25.5%; if any index falls but the final underlier level of each is greater than or equal to the 90% trigger buffer level, par plus the absolute return of the worst performer; otherwise, investors will lose 1% for every 1% decline of the worst performer below 10%
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| Initial levels: | 13,319.38 for Nasdaq, 4,201.09 for S&P, 32,817.38 for Dow
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| Trigger buffer levels: | 90% of initial levels
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| Pricing date: | March 7
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| Settlement date: | March 10
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 40057LG70
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