Published on 8/31/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $1.28 million leveraged buffered basket-linked notes
By William Gullotti
Buffalo, N.Y., Aug. 31 – GS Finance Corp. priced $1.28 million of 0% leveraged buffered notes due Aug. 23, 2027 linked to a weighted basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Dow Jones U.S. Select Dividend index with a 25% weight, the iShares MSCI EAFE ETF with a 20% weight, the iShares Core U.S. Aggregate Bond ETF with a 20% weight, the iShares MSCI Emerging Markets ETF with an 20% weight and the Russell 2000 index with a 15% weight.
The payout at maturity will be par plus 1.13 times the basket gain.
Investors will receive par if the basket finishes flat or falls by up to 25% and will lose 1% for every 1% decline beyond 25%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Leveraged buffered basket-linked notes
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| Underlying assets: | Dow Jones U.S. Select Dividend index (25%), iShares MSCI EAFE ETF (20%), iShares Core U.S. Aggregate Bond ETF (20%), iShares MSCI Emerging Markets ETF (20%), Russell 2000 index (15%)
|
| Amount: | $1,275,000
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| Maturity: | Aug. 23, 2027
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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 1.13 times basket gain; par if basket finishes flat or declines by up to 25%; 1% loss for every 1% decline beyond 25%
|
| Initial levels: | 796.08 for Dow Select, $69.84 for EAFE ETF, $95.62 for Aggregate Bond ETF, $38.40 for EM ETF 50, 1,859.421 for Russell
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| Buffer level: | 75% of initial level
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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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| Fees: | 0.25%
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| Cusip: | 40057TUB8
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