Published on 2/13/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.93 million leveraged buffered notes on index basket
By Kiku Steinfeld
Chicago, Feb. 16 – GS Finance Corp. priced $2.93 million of 0% leveraged buffered notes due feb. 6, 2023 linked to a 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 Euro Stoxx 50 index with a 36% weight, the FTSE 100 index with a 16% weight, the Topix index with a 29% weight, the Swiss Market index with a 8% weight and the S&P/ASX 200 index with an 8% 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 $1,189.60 per $1,000 principal amount.
Investors will receive par if the basket declines by 10% or less and will lose 1.1111% for every 1% that the basket declines beyond 10%.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Leveraged buffered notes
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| Underlying indexes: | Euro Stoxx 50 (36% weight), FTSE 100 (16% weight), Topix index (29% weight), Swiss Market index (11% weight) and S&P/ASX 200 (8% weight)
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| Amount: | $2,925,000
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| Maturity: | Feb. 6, 2023
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| Coupon: | 0%
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| Price: | Par of $1,000
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| Payout at maturity: | If basket return is positive, par plus two times the basket return, capped at payout of par plus 18.96%; par if basket declines by 10% or less; 1.1111% loss for every 1% that the basket declines beyond 10%
|
| Initial index levels: | 3,590.46 for the Euro Stoxx 50, 6,516.65 for the FTSE 100, 1,847.02 for the Topix index, 10,803.57 for the Swiss Market and 6,762.602 for the S&P/ASX 200
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| Pricing date: | Feb. 2
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| Settlement date: | Feb. 9
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 1.65%
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| Cusip: | 40057FCZ5
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