Published on 8/5/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $388,000 index-linked notes on Nasdaq, S&P, Russell
By Kiku Steinfeld
Chicago, Aug. 5 – GS Finance Corp. priced $388,000 of 0% index-linked notes due Jan. 20, 2023 tied to the lesser performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its initial level, the payout will be par plus 17%.
If the lesser-performing index falls by up to 30%, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the lesser-performing index from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
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 indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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Amount: | $388,000
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Maturity: | Jan. 20, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes at or above its initial level, par plus 17%; if the lesser-performing index falls by up to 30%, par; otherwise, 1% loss for every 1% decline of the lesser-performing index
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Initial index levels: | 2,163.238 for Russell, 4,327.16 for S&P, 14,681.38 for Nasdaq
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Trigger buffer levels: | 70% of initial levels
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Pricing date: | July 16
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Settlement date: | July 21
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 0.36%
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Cusip: | 40057HT91
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