Published on 10/21/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $5.3 million index-linked notes on Russell, S&P, Dow
By William Gullotti
Buffalo, N.Y., Oct. 21 – GS Finance Corp. priced $5.3 million of 0% index-linked notes due Jan. 19, 2024 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Dow Jones industrial average, 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 the return of the least performing index, subject to a maximum payout of par plus 22.25%.
If the least performing index falls by up to 20%, the payout will be par plus the absolute value of the worst performer’s return.
Otherwise, investors will lose 1% for each 1% decline of the worst performer beyond 20%.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Index-linked notes
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| Underlying indexes: | Russell 2000 index, S&P 500 index, Dow Jones industrial average
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| Amount: | $5,304,000
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| Maturity: | Jan. 19, 2024
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If the return of each index is zero or positive, par plus the least performing index’s return capped at 22.25%; if any index falls but the final underlier level of each is greater than or equal to the 80% trigger buffer level, par plus the absolute return of the worst performer; otherwise, lose 1% for each 1% decline of the worst performer beyond 20%
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| Initial levels: | 1,682.403 for Russell, 3,583.07 for S&P, 29,634.83 for Dow
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| Trigger buffer levels: | 80% of initial levels
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| Pricing date: | Oct. 14
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| Settlement date: | Oct. 19
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.5%
|
| Cusip: | 40057NK22
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