Published on 3/23/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.06 million ETF-linked notes on EAFE, EM funds
By Wendy Van Sickle
Columbus, Ohio, March 23 – GS Finance Corp. priced $1.06 million of 0% ETF-linked notes due Aug. 29, 2024 tied to the iShares MSCI EAFE ETF and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the return of each ETF is zero or positive, the payout at maturity will par plus 1.35 times the return of the lesser performing ETF.
If the lesser performing ETF falls by up to 40%, the payout will be par. If the lesser performing ETF falls by more than 40%, investors will be fully exposed to the decline of the lesser performing ETF.
Goldman, Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | ETF-linked notes
|
| Underlying ETFs: | iShares MSCI EAFE ETF, iShares MSCI Emerging Markets ETF
|
| Amount: | $1,058,000
|
| Maturity: | Aug. 29, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If laggard fund return is flat or positive, par plus 1.35 times laggard ETF return; if laggard ETF falls by up to 40%, par; otherwise, full exposure to losses of laggard ETF
|
| Initial values: | $74.01 for EAFE and $53.73 for EM
|
| Barrier levels: | 60% of initial levels
|
| Pricing date: | Feb. 26
|
| Settlement date: | March 3
|
| Agent: | Goldman, Sachs & Co. LLC
|
| Fees: | 0.93%
|
| Cusip: | 40057FCL6
|
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