Published on 2/1/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $430,000 callable contingent coupon index-linked notes
Chicago, Feb. 1 – GS Finance Corp. priced $430,000 of callable contingent coupon index-linked notes due May 4, 2027 tied to the Dow Jones industrial average, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 6.5% if each index closes at or above the coupon trigger level, 70% of the initial level, on the valuation date for that period.
The notes may be called at par plus any coupon due on any quarterly call observation date after one year.
If the notes have not been called and each index finishes at or above its 65% trigger buffer level, the payout at maturity will be par plus the final coupon, if any.
Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
Goldman Sachs & Co. LLC is the agent.
Issuer: | GS Finance Corp.
|
Guarantor: | Goldman Sachs Group, Inc.
|
Issue: | Callable contingent coupon index-linked notes
|
Underlying indexes: | S&P 500 index, Russell 2000 index, Dow Jones industrial average
|
Amount: | $430,000
|
Maturity: | May 4, 2027
|
Coupon: | 6.5% annualized rate, payable quarterly if each index closes at or above coupon trigger level on valuation date for that period
|
Price: | Par
|
Payout at maturity: | If each index finishes at or above trigger buffer level, par plus final coupon, if any; otherwise, full exposure to decline of worst performer from initial level
|
Call: | At par plus any coupon due on any quarterly call observation date after one year
|
Initial index levels: | 4,131.93 for S&P, 1,864.103 for Russell, 32,977.21 for Dow
|
Coupon trigger levels: | 70% of initial levels
|
Trigger buffer levels: | 65% of initial levels
|
Pricing date: | April 29, 2022
|
Settlement date: | May 4, 2022
|
Agent: | Goldman Sachs & Co. LLC
|
Fees: | 4.125%
|
Cusip: | 40057LUB5
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.