Published on 10/12/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.06 million contingent coupon underlier-linked notes on indexes, ETF
By William Gullotti
Buffalo, N.Y., Oct. 12 – GS Finance Corp. priced $1.06 million of 0% Contingent coupon underlier-linked notes due Oct. 7, 2025 linked to the performance of the S&P 500 index, the Russell 2000 Value index and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a monthly contingent coupon at an annual rate of 9.75% if each underlier closes at or above its 50% coupon trigger level on the relevant observation date.
If each underlier finishes at or above its 50% trigger buffer level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be fully exposed to the decline of the least performer from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Contingent coupon underlier-linked notes
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| Underlying assets: | S&P 500 index, Russell 2000 Value index, VanEck Vectors Gold Miners ETF
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| Amount: | $1,055,000
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| Maturity: | Oct. 7, 2025
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| Coupon: | 9.75% annual rate, payable monthly if all underliers close at or above coupon trigger levels on the relevant observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon if all underliers finish at or above trigger buffer level; otherwise, full exposure to decline of worst performer from its initial level
|
| Initial levels: | 3,585.62 for S&P, 1,934.438 for Russell Value, $24.12 for ETF
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| Coupon trigger levels: | 50% of initial levels
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| Trigger buffer levels: | 50% of initial levels
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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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| Fees: | 0.75%
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| Cusip: | 40057NDM6
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