Published on 9/18/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $250,000 index-linked notes on S&P, Russell
By Kiku Steinfeld
Chicago, Sept. 18 – GS Finance Corp. priced $250,000 of 0% index-linked notes due Sept. 6, 2024 tied to the least performing of the Russell 2000 index and 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.
At maturity, investors will receive par plus 1.5 times the return of the worst performer if both indexes finish above their initial levels, subject to a maximum return of $1,223 per $1,000 note.
The payout will be par if either index finishes below its initial level, but both indexes finish above 70% of their initial levels.
Otherwise, investors will be exposed to the losses of the worst performer.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Index-linked notes
|
| Underlying indexes: | Russell 2000 index, S&P 500 index
|
| Amount: | $250,000
|
| Maturity: | Sept. 6, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.5 times the return of worst performer if both indexes finish above initial levels, capped at $1,223 per $1,000 note; par if it finishes below initial level but above barrier level; otherwise, exposure to losses of worst performer
|
| Initial levels: | 4,045.64 for S&P, 1,928.263 for Russell
|
| Barrier levels: | 70% of initial levels
|
| Pricing date: | March 3, 2023
|
| Settlement date: | March 8, 2023
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 2.225%
|
| Cusip: | 40057PV33
|
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