Published on 10/19/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $434,000 index-linked notes on Dow Select, S&P
By Kiku Steinfeld
Chicago, Oct. 19 – GS Finance Corp. priced $434,000 of 0% index-linked notes due Oct. 2, 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 105% of the return of the least performing index, capped at 50%.
If the least performing index falls by up to 15%, the payout will be par plus the absolute value of the lesser performing index return.
Otherwise, investors will lose 1% for every 1% decline of the worst performer 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 U.S. Select Dividend index, S&P 500 index
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Amount: | $434,000
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Maturity: | Oct. 2, 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 105% of the return of the least performing index, capped at 50%; if any index falls but the final underlier level of each is greater than or equal to the 85% buffer level, par plus the absolute value of the lesser performing index return; otherwise, 1% loss for every 1% decline of worst performer beyond 15%
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Initial levels: | 815.38 for Dow Select, 3,971.27 for S&P
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Buffer levels: | 85% of initial levels
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Pricing date: | March 28, 2023
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Settlement date: | March 31, 2023
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 3%
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Cusip: | 40057PWF5
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