Published on 7/8/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $9.55 million PLUS on index, ETF basket
By Wendy Van Sickle
Columbus, Ohio, July 8 – GS Finance Corp. priced $9.55 million of 0% Performance Leveraged Upside Securities due Jan. 5, 2023 linked to a basket of indexes and an exchange-traded fund, 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 Russell 2000 index with a 25% weight, the iShares MSCI Emerging Markets ETF with a 15% weight, the VanEck Vectors Gold Miners ETF with a 15% weight, the Euro Stoxx 50 index with a 15% weight, the Topix index with a 10% weight, the iShares Silver trust with a 10% weight and the iShares Biotechnology ETF with a 10% weight.
If the basket return is positive, the payout at maturity will be par plus two times the basket return, subject to a maximum settlement amount of $11.08 per $10.00 principal amount.
Investors will lose 1% for every 1% that the basket declines from its initial level.
Goldman Sachs & Co. LLC is the underwriter. Morgan Stanley Wealth Management is acting as dealer.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Performance Leveraged Upside Securities
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| Underlying assets: | Russell 2000 index (25% weight), iShares MSCI Emerging Markets ETF (15% weight), VanEck Vectors Gold Miners ETF (15% weight), Euro Stoxx 50 index (15% weight), Topix index (10% weight), iShares Silver trust (10% weight) and iShares Biotechnology ETF (10% weight)
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| Amount: | $9,550,500
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| Maturity: | Jan. 5, 2023
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| Coupon: | 0%
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| Price: | Par of $10.00
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| Payout at maturity: | If basket return is positive, par plus two times the basket return, capped at payout of par plus 10.8%; otherwise, full exposure to losses of basket
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| Initial levels: | 1,707.99 for Russell, $40.10 for MSCI EM, $27.38 for Gold ETF, 3,454.86 for Stoxx, 1,870.82 | for Topix, $18.64 for silver and $117.76 for biotech fund
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| Pricing date: | June 30
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| Settlement date: | July 6
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| Underwriter: | Goldman Sachs & Co. LLC
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 1.75%
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| Cusip: | 36263Q728
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