Published on 8/24/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $36.45 million trigger PLUS linked to index basket
Chicago, Aug. 24 – GS Finance Corp. priced $36.45 million of 0% trigger PLUS due Aug. 23, 2029 linked to a basket of equity indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the S&P 500 Equal Weight index with a 70% weight, the Euro Stoxx 50 index with a 20% weight and the MSCI Emerging Markets index with a 10% weight.
If the basket return is positive, the payout at maturity will be par plus 156% of the basket return, capped at 210% of par.
Investors will receive par if the basket return is negative but ends at or above the 80% trigger and will lose 1% for every 1% decline if it ends below the trigger level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Trigger PLUS
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| Underlying basket: | S&P 500 Equal Weight index (70% weight), Euro Stoxx 50 index (20% weight) and MSCI Emerging Markets index (10% weight)
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| Amount: | $36,445,000
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| Maturity: | Aug. 23, 2029
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If basket return is positive, par plus 156% of basket return, capped at 210% of par; par if basket declines but finishes at or above trigger level; otherwise, 1% loss for every 1% that basket declines from initial level
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| Initial levels: | 5,968.91 for Equal Weight, 4,212.95 for Stoxx, 964.44 for EM
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| Trigger level: | 80% of initial level
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| Upside leverage: | 156%
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| Pricing date: | Aug. 18
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| Settlement date: | Aug. 23
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| Agent: | Goldman Sachs & Co. LLC
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 3.5%
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| Cusip: | 40057TU28
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