Published on 10/25/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.7 million index-linked notes on S&P 500
By William Gullotti
Buffalo, N.Y., Oct. 25 – GS Finance Corp. priced $2.7 million of 0% index-linked notes due Oct. 24, 2024 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the index gains, the payout at maturity will be par plus 1.5 times the return, subject to a maximum payout of par plus 22%.
Otherwise, investors will lose 1% for every 1% decline to a minimum payout of 95% of par.
Goldman Sachs & Co. LLC is the underwriter.
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 index: | S&P 500 index
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Amount: | $2,695,000
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Maturity: | Oct. 24, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index finishes at or above its initial level, par plus 1.5 times the index return, capped at par plus 22%; otherwise, lose 1% for every 1% decline to a minimum payout of 95% of par
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Initial level: | 3,695.16
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Pricing date: | Oct. 19
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Settlement date: | Oct. 24
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 1%
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Cusip: | 40057NNE3
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