Published on 11/15/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.32 million index-linked notes on Dow, S&P
By Kiku Steinfeld
Chicago, Nov. 15 – GS Finance Corp. priced $1.32 million of 0% index-linked notes due March 31, 2023 tied to the Dow Jones industrial average 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 worse-performing index gains, the payout will be par plus its return, capped at 11%.
If either index falls by up to 10%, the payout will be par plus the absolute value of the lesser return.
Otherwise, investors will lose 1% for every 1% that the worse-performing index falls beyond 10%.
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 industrial average and S&P 500
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| Amount: | $1,324,000
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| Maturity: | March 31, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worse-performing index gains, par plus its return, capped at 11%; if either index falls by up to 10%, par plus absolute value of the lesser return; otherwise, exposure to decline of worse-performing index beyond 10%
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| Initial levels: | 33,544.34 for Dow, 4,262.45 for S&P
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| Buffer levels: | 90% of initial levels
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| Pricing date: | March 15
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| Settlement date: | March 18
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 1.65%
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| Cusip: | 40057LGP0
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