Published on 11/10/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $31 million index-linked notes on Dow Jones industrial average
By Wendy Van Sickle
Columbus, Ohio, Nov. 10 – GS Finance Corp. priced $31 million of 0% index-linked notes due Feb. 5, 2025 tied to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the index return is greater than or equal to 115% of the initial level, the payout at maturity will be par plus 1.97 times (the index gain minus 15%) up to maximum settlement amount of $1,445.5 for each $1,000 note. If the index return is between 106% and 115% of the initial level, the payout will be par plus the index return. If the index return is between 91% and 106% of the initial level, the payout will be par plus 0.4% of the index return plus 9%. Investors will be exposed to losses beyond 9%.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Index-linked notes
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| Underlying index: | Dow Jones industrial average
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| Amount: | $31 million
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| Maturity: | Feb. 5, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index return is greater than or equal to 115% of initial level, par plus 1.97 times (index gain minus 15%) up to maximum of $1,445.5 for each $1,000 | note; if index return is between 106% and 115% of initial level, par plus index return; if index return is between 91% and 106% of initial level, par plus 0.4% of index return plus 9%; exposure to losses beyond 9%
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| Initial level: | Average of closing levels from Nov. 2 through Nov. 12
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| Final level: | Average of closing levels from Oct. 31, 2024 through Jan. 31, 2025
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| Pricing date: | Nov. 5
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| Settlement date: | Nov. 15
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 0.15%
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| Cusip: | 40057K3G6
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