Published on 9/22/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $556,000 autocallable index-linked notes on Dow, Russell, Nasdaq
By Kiku Steinfeld
Chicago, Sept. 22 – GS Finance Corp. priced $556,000 of 0% autocallable index-linked notes due Feb. 7, 2025 tied to the Nasdaq-100 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its initial level on Jan. 31, 2023, the notes will be called at par plus a 15.75% call premium amount.
If the notes are not called and each index finishes at or above its initial level, the payout will be par plus 2 times the return of the worst performer.
If the worst performer declines but finishes at or above 70% of its initial level, the payout will be par.
If any index falls by more than 30%, investors will be 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: | Autocallable index-linked notes
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Underlying indexes: | Nasdaq-100 index, Dow Jones industrial average and Russell 2000 index
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Amount: | $556,000
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Maturity: | Feb. 7, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 2 times the return of the worst performer if all indexes finish positive; par if worst performer declines but finishes above 70% of initial level; otherwise, investors will be fully exposed to the decline of the worst performing index from its initial level
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Call: | Automatically at par plus 15.75% if all indexes finish above initial levels on Jan. 31, 2023
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Initial index levels: | 14,930.05 for Nasdaq, 35,131.86 for Dow, 2,028.453 for Russell
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Trigger buffer levels: | 70% of initial levels
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Pricing date: | Jan. 31, 2022
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Settlement date: | Feb. 3, 2022
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.76%
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Cusip: | 40057KV59
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