Published on 11/2/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $542,000 index-linked notes on Russell, S&P
By Kiku Steinfeld
Chicago, Nov. 2 – GS Finance Corp. priced $542,000 of 0% index-linked notes due Feb. 26, 2027 linked to the least performing of the Russell 2000 index and 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.
The payout at maturity will be par plus any gain of the least performing index.
If the least performing index falls but not below the 85% buffer level, the payout will be par plus the absolute value of the lesser performing index return.
Otherwise, investors will be fully exposed to any losses of the worst performing index beyond 15% of its initial level.
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: | Russell 2000 index, S&P 500 index
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Amount: | $542,000
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Maturity: | Feb. 26, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any gain of the least performing index; if any index falls but not below buffer level, par plus the absolute value of the lesser performing index return; if any index falls below buffer, investors will be fully exposed to the decline of the worst performing index beyond 15%
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Initial levels: | 1,944.092 for Russell, 4,225.50 for S&P
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Buffer levels: | 85% of initial levels
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Pricing date: | Feb. 23
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Settlement date: | Feb. 28
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 3.77%
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Cusip: | 40057KX32
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