Published on 10/12/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $900,000 buffered basket-linked notes on five stocks
Chicago, Oct. 12 – GS Finance Corp. priced $900,000 of 0% buffered basket-linked notes due Oct. 3, 2025 based on the performance of an equally weighted basket of the common stocks of five companies, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The basket stocks are Airbnb, Inc., CrowdStrike Holdings, Inc., Nvidia Corp., Snowflake Inc. and Tesla, Inc. Each of the stocks has a 20% weight in the basket.
If the basket return is positive, the payout at maturity will be par plus the gain, subject to a maximum settlement amount of $1,932 per $1,000 principal amount.
If the basket falls by up to 25%, the payout will be par. Investors will lose 1 % for every 1% basket 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 basket-linked notes
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| Underlying basket: | Airbnb, Inc. (Ticker: ABNB), CrowdStrike Holdings, Inc. (Ticker: CRWD), Nvidia Corp. (Ticker: NVDA), Snowflake Inc. (Ticker: SNOW) and Tesla, Inc. (Ticker: TSLA); equal 20% weights
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| Amount: | $900,000
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| Maturity: | Oct. 3, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus any basket gain, capped at par plus 93.2%; par if basket falls by up to 25%; 1% loss for every 1% basket decline beyond 25%
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| Initial prices: | $105.04 for Airbnb, $164.81 for CrowdStrike, $121.39 for Nvidia, $169.96 for Snowflake, $265.25 for Tesla
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| Buffer level: | 75% of initial level
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| Pricing date: | Sept. 30, 2022
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| Settlement date: | Oct. 5, 2022
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 40057NCJ4
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