Published on 6/16/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $305,000 index-linked notes on S&P, Dow Select Dividend
By Kiku Steinfeld
Chicago, June 16 – GS Finance Corp. priced $305,000 of 0% index-linked notes due Aug. 5, 2025 linked to the least performing of the Dow Jones U.S. Select Dividend index 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 the return of each index is zero or positive, the payout at maturity will be par plus 1.05 times the return of the least performing index.
If the least performing index falls by up to 30%, the payout will be par plus the absolute value of the worst performer’s return.
Otherwise, investors will lose 1% for every 1% decline of the worst performing index.
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 U.S. Select Dividend index, S&P 500 index
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Amount: | $305,000
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Maturity: | Aug. 5, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the return of each index is zero or positive, par plus 1.05 times the return of the least performing index; if any index falls but the final underlier level of each is greater than or equal to the 70% barrier level, par plus the absolute return of the worst performer; if any index falls by more than 30%, investors will lose 1% for every 1% decline of the worst performing index
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Initial levels: | 896.34 for Dow, 4,076.60 for S&P
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Barrier levels: | 70% of initial levels
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Pricing date: | Jan. 31, 2023
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Settlement date: | Feb. 3, 2023
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.77%
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Cusip: | 40057PDM1
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