Published on 8/17/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $7.39 million trigger step securities tied to index basket
By William Gullotti
Buffalo, N.Y., Aug. 17 – GS Finance Corp. priced $7.39 million of 0% trigger step securities due June 18, 2026 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 an initial weight of 40%, the Nikkei 225 index with an initial weight of 25%, the FTSE 100 index with an initial weight of 17.5%, the Swiss Market index with an initial weight of 10% and the S&P/ASX 200 index with an initial weight of 7.5%
If the index return is flat or positive, the payout at maturity will be par of $10 plus the greater of 38.25% and the basket return. Investors will receive par if the basket declines by 25% or less and will be fully exposed to the index’s decline from its initial level if it declines beyond 25%.
Goldman Sachs & Co. LLC is the agent with UBS Financial Services Inc. as the selling agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Trigger step securities
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| Underlying indexes: | Euro Stoxx 50 (40% weight), Nikkei 225 (25% weight), FTSE 100 (17.5% weight), Swiss Market (10% weight), S&P/ASX 200 (7.5% weight)
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| Amount: | $7,393,390
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| Maturity: | June 18, 2026
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If basket return is flat or positive, par plus greater of 38.25% and basket return; par if basket declines by 25% or less; full exposure to decline from initial level if basket declines beyond 25%
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| Initial index levels: | 4,151.76 for Stoxx, 7,184.95 for FTSE, 29,291.01 for Nikkei, 11,982.03 for Swiss, 7,386.174 for S&P/ASX
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| Downside threshold: | 75% of initial basket level
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| Pricing date: | June 16
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| Settlement date: | June 21
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| Agents: | Goldman Sachs & Co. LLC and UBS Financial Services Inc. as selling agent
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| Fees: | 3.5%
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| Cusip: | 36260Y377
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