Published on 8/15/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.09 million index-linked notes on S&P, Dow Select Dividend
Chicago, Aug. 15 – GS Finance Corp. priced $1.09 million of 0% index-linked notes due July 31, 2024 linked to the least performing of the S&P 500 index and the Dow Jones U.S. Select Dividend 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 return of the least performing index, subject to a maximum payout of par plus 32.5%.
If the least performing index falls by up to 15%, the payout will be par plus the absolute value of the worst performer’s return.
Otherwise, investors will lose 1% for every 1% decline of the worst performer 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, Dow Jones U.S. Select Dividend index
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Amount: | $1,094,000
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Maturity: | July 31, 2024
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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 the return of the least performing index capped at 32.5%; if any index falls but the final underlier level of each is greater than or equal to the 85% buffer level, par plus the absolute return of the worst performer; otherwise, investors will lose 1% for every 1% decline of the worst performer beyond 15%
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Initial levels: | 3,921.05 for S&P, 845.06 for Dow Dividend
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Buffer levels: | 85% of initial levels
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Pricing date: | July 26
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Settlement date: | July 29
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 3%
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Cusip: | 40057MJU4
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