Published on 2/15/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.48 million trigger gears linked to index basket
By Taylor Fox
New York, Feb. 16 – GS Finance Corp. priced $2.48 million of 0% trigger gears due Jan. 16, 2031 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 includes the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 25% weight, the Nikkei 225 index with a 20% weight, the Swiss Market index with a 7.5% weight, and the S&P/ASX 200 index with a 7.5% weight.
If the final basket level is greater than the initial basket level, the payout at maturity will be par of $10 plus 2.305 times the basket return.
If the basket declines by up to 30%, 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: | Euro Stoxx 50 (40% weight), FTSE 100 (25% weight), Nikkei 225 (20% weight), Swiss Market (7.5% weight) and S&P/ASX 200 (7.5% weight)
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Amount: | $2,483,650
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Maturity: | Jan. 16, 2031
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 2.305 times any basket gain; if basket declines by up to 30%, par; otherwise, 1% loss for every 1% basket decline from initial level
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Initial levels: | 3,641.37 for Euro Stoxx, 6,801.96 for FTSE, 28,698.26 for Nikkei, 10,850.81 for Swiss Market, 6,715.35 for S&P/ASX
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Trigger level: | 70% of initial basket level
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Pricing date: | Jan. 14
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Settlement date: | Jan. 19
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Underwriter: | Goldman Sachs & Co. LLC
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Selling agent: | UBS Financial Services Inc.
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Fees: | 5.4%
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Cusip: | 36259U410
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