Published on 11/4/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $1.1 million commodity-linked notes on weighted basket
By William Gullotti
Buffalo, N.Y., Nov. 4 – GS Finance Corp. priced $1.1 million of 0% commodity-linked notes due April 28, 2025 linked to the performance of a weighted basket of commodities, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of West Texas Intermediate light sweet crude oil futures contracts with a 25% weight, ICE Brent Crude futures contract with a 25% weight, copper with a 12.5% weight, zinc with a 12.5% weight, aluminum with a 12.5% weight and U.S. Dollar LBMA Gold Price PM with a 12.5% weight.
The payout at maturity will be par plus the basket return with a floor of par.
The notes are guaranteed by Goldman Sachs Group, Inc.
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: | Basket commodity-linked notes
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Underlying assets: | West Texas Intermediate light sweet crude oil futures contracts (25% weight), ICE Brent Crude futures contract (25% weight), copper (12.5% weight), zinc (12.5% weight), aluminum (12.5% weight), U.S. LBMA Gold Price PM (12.5% weight)
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Amount: | $1.1 million
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Maturity: | April 28, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus basket return with floor of par
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Initial prices: | $87.90 for WTI, $95.77 for Brent, $7,663.50 for copper, $2,914.00 for zinc, $2,226.00 for aluminum, $1,648.05 for gold
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Pricing date: | Oct. 28
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Settlement date: | Nov. 2
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.75%
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Cusip: | 40057NR41
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