Published on 8/4/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $8.89 million index-linked trigger notes on S&P 500
By Wendy Van Sickle
Columbus, Ohio, Aug. 4 – GS Finance Corp. priced $8.89 million of 0% index-linked trigger notes due Aug. 16, 2023 tied to the S&P 500 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 the index is equal to or greater than 80% of the initial level, the payout at maturity will par plus 11.05%.
Otherwise, investors will be exposed to the index’s decline.
Goldman Sachs & Co. LLC is the underwriter. JPMorgan is working as placement agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Index-linked trigger notes
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| Underlying index: | S&P 500 index
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| Amount: | $8,888,000
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| Maturity: | Aug. 16, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index finishes at or above trigger level, par plus 11.05%; otherwise, exposure to index’s decline
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| Initial level: | 4,130.29
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| Trigger level: | 80% of initial level
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| Final level: | Average of index closing levels on each of five trading dates ending Aug. 11, 2023
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| Pricing date: | July 29
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| Settlement date: | Aug. 3
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| Underwriter: | Goldman Sachs & Co. LLC
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| Placement agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 40057MR68
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