Published on 7/23/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $10.37 million PLUS on index, ETF basket
Chicago, July 23 – GS Finance Corp. priced $10.37 million of 0% Performance Leveraged Upside Securities due Dec. 30, 2021 linked to a basket of indexes and an exchange-traded fund, 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 Russell 2000 index with a 25% weight, the iShares MSCI Emerging Markets ETF with a 15% weight, the VanEck Vectors Gold Miners ETF with a 15% weight, the Euro Stoxx 50 index with a 15% weight, the Topix index with a 10% weight, the Health Care Select Sector SPDR fund with a 10% weight and the SPDR S&P Oil & Gas Exploration & Production ETF with a 10% weight.
If the basket return is positive, the payout at maturity will be par plus two times the basket return, subject to a maximum settlement amount of $10.58 per $10.00 principal amount.
Investors will lose 1% for every 1% that the basket declines from its initial level.
Goldman Sachs & Co. LLC is the underwriter. Morgan Stanley Wealth Management is acting as dealer.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Performance Leveraged Upside Securities
|
| Underlying assets: | Russell 2000 index (25% weight), iShares MSCI Emerging Markets ETF (15% weight), VanEck Vectors Gold Miners ETF (15% weight), Euro Stoxx 50 index (15% weight), Topix index (10% weight), Health Care Select Sector SPDR fund (10% weight) and SPDR S&P Oil & Gas Exploration & Production ETF (10% weight)
|
| Amount: | $10,367,610
|
| Maturity: | Dec. 30, 2021
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | If basket return is positive, par plus two times the basket return, capped at payout of par plus 5.8%; otherwise, full exposure to losses of basket
|
| Initial levels: | 2,163.238 for Russell, $53.59 for MSCI EM, $33.92 for Gold ETF, 4,035.77 for Stoxx, 1,932.19 for Topix, $128.62 for health fund and $82.32 for oil fund
|
| Pricing date: | July 16
|
| Settlement date: | July 21
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 1.75%
|
| Cusip: | 36260Y872
|
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