Published on 12/1/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $4.53 million trigger gears linked to index basket
By William Gullotti
Buffalo, N.Y., Dec. 1 – GS Finance Corp. priced $4.53 million of 0% trigger gears due Nov. 30, 2026 linked to a 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 is composed of the S&P 500 index with a 45% weight, the Euro Stoxx 50 index with a 22% weight, the Nikkei 225 index with a 13.75% weight, the FTSE 100 index with a 9.625% weight, the Swiss Market index with a 5.5% weight and the S&P/ASX 200 index with a 4.125% weight.
If the final basket level is greater than the initial basket level, the payout at maturity will be par of $10 plus 1.3125 times the basket return.
If the basket declines by up to 25%, the payout will be par.
Otherwise, investors will lose 1% for every 1% that the basket declines from its initial level.
Goldman Sachs & Co. LLC is the underwriter. UBS Financial Services Inc. is acting as selling agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Trigger gears
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| Underlying basket: | S&P 500 (45% weight), Euro Stoxx 50 (22% weight), Nikkei 225 index (13.75% weight), FTSE 100 index (9.625% weight), Swiss Market index (5.5% weight), S&P/ASX 200 index (4.125% weight)
|
| Amount: | $4,534,600
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| Maturity: | Nov. 30, 2026
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus 1.3125 times any basket gain; if basket declines by up to 25%, par; otherwise, 1% loss for every 1% basket decline from initial level
|
| Initial levels: | 4,594.62 for S&P 500, 4,089.58 for Stoxx, 28,751.62 for Nikkei, 7,044.03 for FTSE, 12,199.21 for Swiss Market, 7,279.347 for S&P/ASX 200
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| Trigger level: | 75% of initial basket level
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| Pricing date: | Nov. 26
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| Settlement date: | Nov. 30
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| Underwriter: | Goldman Sachs & Co. LLC
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| Selling agent: | UBS Financial Services Inc.
|
| Fees: | 3.5%
|
| Cusip: | 36261U820
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