Published on 9/21/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.93 million leveraged participation market-linked notes on indexes, ETF
By William Gullotti
Buffalo, N.Y., Sept. 21 – GS Finance Corp. priced $1.93 million of 0% market-linked securities – leveraged upside participation and contingent downside due Jan. 6, 2028 linked to the performance of the Euro Stoxx 50 index, the S&P 500 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If each underlier finishes at or above its initial level, the payout at maturity will be par plus 2.38 times the return of the least performing underlier.
If the worst performer declines by up to 30%, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
The securities are guaranteed by Goldman Sachs Group, Inc.
Wells Fargo Securities LLC and Goldman Sachs & Co. LLC are the agents.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Market-linked securities – leveraged upside participation and contingent downside
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| Underlying assets: | S&P 500 index, Euro Stoxx 50 index, iShares MSCI EAFE ETF
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| Amount: | $1,925,000
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| Maturity: | Jan. 6, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each underlier finishes at or above initial level, par plus 2.38 times the return of the least performing underlier; if the worst performer declines by up to 30%, par; otherwise, lose 1% for every 1% decline of the worst performer from its initial level
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| Initial levels: | $79.49 for ETF, 4,107.51 for Stoxx, 4,291.8 for S&P
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| Buffer levels: | 70% of initial levels
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| Pricing date: | June 29
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| Settlement date: | July 2
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| Agent: | Wells Fargo Securities LLC and Goldman Sachs & Co. LLC
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| Fees: | 3.82%
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| Cusip: | 40057HL32
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