Published on 10/19/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $679,000 index-linked notes on S&P, Russell
By Kiku Steinfeld
Chicago, Oct. 19 – GS Finance Corp. priced $679,000 of 0% index-linked notes due April 2, 2025 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the final level of each index is zero or positive, the payout at maturity will be par plus the return of the lesser performing index.
If either index falls but the return of each index is at least negative 15%, the payout will be par plus the absolute value of the lesser performing index return.
If either index falls by more than 15%, investors will be fully exposed to the decline of the lesser-performing index beyond 15%.
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: | Index-linked notes
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Underlying indexes: | S&P 500 index, Russell 2000 index
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Amount: | $679,000
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Maturity: | April 2, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the final level of each index is flat or positive, par plus the return of the lesser performing index, capped at 29.7%; if either index falls but the return of each index is at least negative 15%, par plus absolute value of lesser performing index return; if either index falls by more than 15%, investors will be fully exposed to the decline of the worse performing index beyond buffer
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Initial index levels: | 3,977.53 for S&P, 1,752.632 for Russell
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Buffer levels: | 85% of initial levels
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Pricing date: | March 28, 2023
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Settlement date: | March 31, 2023
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 2.8%
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Cusip: | 40057PUY6
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