Published on 10/11/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $15.81 million PLUS linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, Oct. 11 – GS Finance Corp. priced $15.81 million of 0% PLUS due Nov. 2, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 300% of the return, subject to a maximum return of par plus 22.4%.
Investors will be fully exposed to any index decline.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent. Morgan Stanley Wealth Management will act as placement agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | PLUS
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Underlying index: | S&P 500 index
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Amount: | $15,805,000
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Maturity: | Nov. 2, 2023
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index return is positive, par plus 300% of return, subject to a maximum return of par plus 22.4%; otherwise, 1% loss for every 1% that index declines
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Initial level: | 3,585.62
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Upside leverage: | 300%
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Pricing date: | Sept. 30
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Settlement date: | Oct. 5
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Agent: | Goldman Sachs & Co. LLC
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Distributor: | Morgan Stanley Wealth Management
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Fees: | 2.25%
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Cusip: | 36264Q727
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