Published on 5/19/2021 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $3.71 million index-linked notes on Dow, S&P
By Kiku Steinfeld
Chicago, May 19 – GS Finance Corp. priced $3.71 million of 0% index-linked notes due April 30, 2026 tied to the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If worse-performing index gains or finishes flat, the payout will be par plus the return of the lesser performing index, capped at 70%.
If either index declines by up to 15%, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the lesser performing index beyond 15%.
Goldman Sachs & Co. LLC is the agent.
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: | Dow Jones industrial average and S&P 500
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Amount: | $3,706,000
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Maturity: | April 30, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worse-performing index gains or finishes flat, par plus the return of the lesser performing index, capped at 70%; if either index declines by up to 15%, par; 1% loss for every 1% decline of the lesser performing index beyond 15%
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Initial levels: | 33,984.93 for Dow, 4,186.72 for S&P
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Buffer levels: | 85% of initial levels
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Pricing date: | April 27
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Settlement date: | April 30
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 3.82%
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Cusip: | 40057FUV4
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