Published on 2/23/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $855,000 leveraged buffered notes linked to S&P
By Kiku Steinfeld
Chicago, Feb. 23 – GS Finance Corp. priced $855,000 of 0% leveraged buffered index-linked notes due June 28, 2028 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index gains the payout at maturity will be par plus 145% of the return of the index subject to a maximum return of par plus 82%. The payout will be par if the index declines but by no more than the 15% buffer. Investors will lose 1% for every 1% that the index declines beyond the buffer.
The notes are guaranteed by Goldman Sachs Group, Inc.
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: | Leveraged buffered index-linked notes
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Underlying index: | S&P 500 index
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Amount: | $855,000
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Maturity: | June 28, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains par plus 145% of index return subject to a maximum return of par plus 82%; par if index declines but by no more than 15% buffer; otherwise par minus 100% of index decline beyond buffer
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Initial level: | 4,348.33
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Upside leverage: | 145%
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Cap: | 82%
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Buffer: | 15%
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Pricing date: | June 23, 2023
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Settlement date: | June 28, 2023
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.79%
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Cusip: | 40057TBP8
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