Published on 1/5/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $11.89 million PLUS notes linked to mixed basket
By Wendy Van Sickle
Columbus, Ohio, Jan. 5 – GS Finance Corp. priced $11.89 million of 0% Performance Leveraged Upside Securities due June 28, 2024 linked to the performance of a weighted basket of indexes and ETFs, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The basket is comprised of the Invesco S&P 500 Equal Weight ETF 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 Utilities Select Sector SPDR Fund with a 10% weight, the iShares Silver Trust with a 10% weight and the iShares Biotechnology ETF with a 10% weight
If the basket finishes at or above its initial level, the payout at maturity will be par plus 200% of the return, subject to a maximum payout of par plus 7%.
Investors will be exposed to any basket decline.
Goldman Sachs & Co. LLC is the underwriter. Morgan Stanley Wealth Management is the dealer.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Performance Leveraged Upside Securities
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| Underlying assets: | Invesco S&P 500 Equal Weight ETF (25% weight), iShares MSCI Emerging Markets ETF (15% weight), VanEck Vectors Gold Miners ETF (15% weight), Euro Stoxx 50 index (15% weight), Utilities Select Sector SPDR Fund (10% weight), iShares Silver Trust (10% weight), iShares Biotechnology ETF (10% weight)
|
| Amount: | $11,894,000
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| Maturity: | June 28, 2024
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If the basket finishes at or above its initial level, par plus 200% of the gain, subject to maximum payout of par plus 7%; full exposure to any basket decline
|
| Initial levels: | $157.80 for Invesco, $40.21 for iShares MSCI EM, $31.01 for VanEck Gold, 4,521.65 for Stoxx, $63.33 for Utilities Select SPDR, $21.78 for iShares Silver, $135.85 for iShares Biotechnology
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| Pricing date: | Dec. 29
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| Settlement date: | Jan. 4
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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%
|
| Cusip: | 40057XK20
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