Published on 8/25/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.34 million index-linked notes on S&P, Dow
Chicago, Aug. 25 – GS Finance Corp. priced $1.34 million of 0% index-linked notes due Feb. 24, 2025 tied to the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its initial level, the payout will be par plus 1.5 times the return of the laggard index, capped at par plus 36%.
If the worst performer declines but finishes at or above 90% of its initial level, the payout will be par.
If any index falls by more than 10%, investors will be exposed to the decline of the worst performing index beyond the 10% 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: | Index-linked notes
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Underlying indexes: | S&P 500 index, Dow Jones industrial average
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Amount: | $1,342,000
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Maturity: | Feb. 24, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes at or above its initial level, par plus 1.5 times the return of the laggard index, capped at par plus 36%; if worst performer finishes above buffer level, par; otherwise, investors will be exposed to the decline of the worst performing index beyond the 10% buffer
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Initial index levels: | 4,228.48 for S&P, 33,706.74 for Dow
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Buffer levels: | 90% of initial levels
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Pricing date: | Aug. 19
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Settlement date: | Aug. 24
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 2.25%
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Cusip: | 40057MT41
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