Published on 10/30/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $78,000 index-linked notes on two indexes
By Kiku Steinfeld
Chicago, Oct. 30 – GS Finance Corp. priced $78,000 of 0% index-linked notes due Oct. 3, 2025 tied to 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.
If each index finishes at or above its initial level, the payout will be par plus 1.02 times the return of the lesser performing index.
If the lesser performing index falls by up to 30%, the payout will be par plus the absolute value of the return of the lesser performing index.
Investors will lose 1% for every 1% decline of the lesser performing index if otherwise.
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: | Dow Jones U.S. Select Dividend, S&P 500
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Amount: | $78,000
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Maturity: | Oct. 3, 2025
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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 1.02 times the return of the lesser performing index; if the lesser performing index falls by up to 30%, par plus the absolute value of the return of the lesser performing index; 1% loss for every 1% decline of the lesser performing index if otherwise
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Initial index levels: | 838.03 for Select Dividend, 4,109.31 for S&P
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Trigger levels: | 70% of initial levels
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Pricing date: | March 31, 2023
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Settlement date: | April 5, 2023
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 0.5%
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Cusip: | 40057PWX6
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