Published on 10/19/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $301,000 index-linked notes on Russell, S&P, Nasdaq
By Kiku Steinfeld
Chicago, Oct. 19 – GS Finance Corp. priced $301,000 of 0% index-linked notes due March 31, 2028 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the return of each index is zero or positive, the payout at maturity will be par plus the greater of the worst performing index’s return and 40%
If the least performing index falls by no more than 30%, the payout will be par plus the absolute value of the worst performer’s return.
Otherwise, investors will be fully exposed to any losses of the worst performing index from its initial level.
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: | Russell 2000 index, S&P 500 index, Nasdaq-100 index
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| Amount: | $301,000
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| Maturity: | March 31, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the return of each index is zero or positive, par plus greater of the worst performing index’s return and 40%; if any index falls but not below its trigger buffer level, par plus the absolute return of the worst performer; if any index falls by more than trigger buffer, investors will be fully exposed to the decline of the worst performing index from its initial level
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| Initial levels: | 1,752.632 for Russell, 3,971.27 for S&P, 12,610.57 for Nasdaq
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| Trigger buffer levels: | 70% 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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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 3.95%
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| Cusip: | 40057PWJ7
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