Published on 6/30/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $918,000 index-linked notes on Dow Select, Russell, Nasdaq
Chicago, June 30 – GS Finance Corp. priced $918,000 of 0% index-linked notes due Dec. 22, 2026 tied to the lesser performing of the Nasdaq-100 index, the Dow Jones U.S. Select Dividend index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the notes are not called and each index finishes at or above its initial level, the payout will be par plus the greater of the the return of the worst performer or 33.5%.
If the worst performer declines but finishes at or above 70% of its initial level, the payout will be par plus the absolute value of the lesser performing index return.
If any index falls by more than 30%, investors will be fully exposed to the decline of the worst performing index from its initial level.
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: | Index-linked notes
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Underlying indexes: | Nasdaq-100 index, Dow Jones U.S. Select Dividend index and Russell 2000 index
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Amount: | $918,000
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Maturity: | Dec. 22, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus greater of return of worst performer or plus 33.5% if all three indexes close above initial levels; par plus absolute value of worst performer if it declines but finishes above trigger buffer level; otherwise, investors will be fully exposed to the decline of the worst performing index from its initial level
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Initial index levels: | 2,173.931 for Russell, 15,801.46 for Nasdaq, 852.23 for Dow Select
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Trigger buffer levels: | 70% of initial levels
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Pricing date: | Dec. 17, 2021
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Settlement date: | Dec. 22, 2021
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 4.375%
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Cusip: | 40057KJS3
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