Published on 4/4/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.76 million upside participation market-linked notes on S&P
By William Gullotti
Buffalo, N.Y., April 4 – GS Finance Corp. priced $1.76 million of 0% market-linked securities – upside participation to a cap and fixed percentage buffered downside due May 5, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus the gain in the index, capped at $1,630 per security.
If the index falls by up to 15%, the payout will be par.
Investors will lose 1% for every 1% decline of the index beyond the 15% buffer.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC and Wells Fargo Securities are agents.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Market-linked securities – upside participation to a cap and fixed percentage buffered downside
|
| Underlying index: | S&P 500 index
|
| Amount: | $1,760,000
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| Maturity: | May 5, 2027
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus index gain, capped at $1,630 per security; if index falls by up to 15%, par; otherwise, 1% loss for every 1% decline of index beyond 15% buffer
|
| Initial share price: | 4,181.17
|
| Buffer level: | 85% of initial level
|
| Pricing date: | April 30, 2021
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| Settlement date: | May 5, 2021
|
| Agent: | Goldman Sachs & Co. LLC and Wells Fargo Securities
|
| Fees: | 4.52%
|
| Cusip: | 40057FY40
|
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