Published on 9/1/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.06 million buffered index-linked notes on S&P 500
By Kiku Steinfeld
Chicago, Sept. 1 – GS Finance Corp. priced $1.06 million of 0% buffered index-linked notes due March 4, 2025 based on the performance of 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.
The payout at maturity will be the maximum settlement amount of $1,265 for each $1,000 face amount if the index gains.
If the index falls by up to 25%, the payout will be par. Otherwise, investors will lose 1% for every 1% decline beyond 25%.
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: | Buffered index-linked notes
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Underlying index: | S&P 500
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Amount: | $1,055,000
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Maturity: | March 4, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | $1,265 for each $1,000 face amount if the index gains; if index falls by up to 25%, par; 1% loss for every 1% decline beyond 25%
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Initial index level: | 3,982.24
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Buffer level: | 75% of initial level
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Pricing date: | Feb. 27, 2023
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Settlement date: | March 2, 2023
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.5%
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Cusip: | 40057PU26
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