Published on 2/28/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $8.56 million capped trigger gears on Russell 2000
By Kiku Steinfeld
Chicago, March 1 – GS Finance Corp. priced $8.56 million of 0% capped trigger gears due Feb. 29, 2024 linked to the Russell 2000 index, 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 positive, the payout at maturity will be par plus 2 times the index gain, capped at $13.31 per $10 face amount of notes.
If the index finishes at or below the initial level but at or above the downside threshold, 75% of the initial level, the payout will be par.
Otherwise, investors will be fully exposed to the index decline.
Goldman, Sachs & Co. LLC is the underwriter with UBS Financial Services Inc. as selling agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Capped trigger gears
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Underlying index: | Russell 2000
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Amount: | $8,564,000
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Maturity: | Feb. 29, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 2 times any index gain, capped at par plus 33.1%; par if index finishes at or below the initial level but at or above downside threshold; otherwise, full exposure to index decline
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Initial index level: | 2,231.314
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Downside threshold: | 1,673.486, 75% of initial level
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Pricing date: | Feb. 23
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Settlement date: | Feb. 26
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Underwriter: | Goldman, Sachs & Co. LLC with UBS Financial Services Inc. as selling agent
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Fees: | 2.75%, including 2.5% for selling concessions
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Cusip: | 36259Y164
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