Published on 8/16/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $742,000 leveraged upside participation notes on three indexes
Chicago, Aug. 16 – GS Finance Corp. sold $742,000 of 0% market-linked securities with leveraged upside participation and contingent downside due July 22, 2027 linked to the lowest performing of the Nasdaq-100 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities are guaranteed by Goldman Sachs Group, Inc.
The payout at maturity will be par plus 1.4 times the return of the worst performer if all three indexes close above their initial levels.
If the worst performer declines but not more than 40%, the payout will be par.
Otherwise, investors will be fully exposed to the losses of the worst performer.
Wells Fargo Securities LLC and Goldman Sachs & Co. LLC are the agents.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Market-linked securities with leveraged upside participation and contingent downside
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index, Nasdaq-100 index
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| Amount: | $742,000
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| Maturity: | July 22, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 1.4 times return of worst performer if all indexes finish above initial levels; par if worst performer declines but not beyond barrier level; otherwise, full exposure to losses of worst performer
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| Call: | Non-callable
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| Initial levels: | 31,827.05 for Dow, 1,799.324 for Russell, 12,249.42 for Nasdaq
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| Barrier levels: | 60% of initial levels
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| Pricing date: | July 19, 2022
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| Settlement date: | July 22, 2022
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| Agents: | Wells Fargo Securities LLC and Goldman Sachs & Co. LLC
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| Fees: | 3.55%
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| Cusip: | 40057MMY2
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