Published on 2/4/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $128,000 leveraged market-linked notes on basket
By Kiku Steinfeld
Chicago, Feb. 4 – GS Finance Corp. priced $128,000 of 0% market-linked notes with leveraged upside participation to a cap and fixed percentage buffered downside due Sept. 5, 2023 linked to an equally weighted 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 S&P 500 index with a 50% weight and the Euro Stoxx 50 index with a 50% weight.
The payout at maturity will be par plus 1.25 times any basket gain, capped at par plus 12%. Investors will receive par if the basket falls by up to 10% and will lose 1% for every 1% decline beyond the 10% buffer.
Goldman Sachs & Co. LLC and Wells Fargo Securities, LLC.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Market-linked notes with leveraged upside participation to a cap and fixed percentage buffered downside
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Underlying basket: | S&P 500, Euro Stoxx 50, equally weighted
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Amount: | $128,000
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Maturity: | Sept. 5, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.25 times any basket gain, capped at par plus 12%; par if the basket falls by up to 10%; 1% loss for every 1% decline beyond the 10% buffer
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Initial value: | 4,522.68 for S&P, 4,196.41 for Stoxx
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Buffer value: | 90% of initial basket level
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Pricing date: | Aug. 31
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Settlement date: | Sept. 3
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Agents: | Goldman Sachs & Co. LLC and Wells Fargo Securities, LLC
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Fees: | 2.825%
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Cusip: | 40057HYT1
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