Published on 11/6/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $1.05 million bearish notes linked to Nasdaq-100
By Kiku Steinfeld
Chicago, Nov. 7 – GS Finance Corp. priced $1.05 million of 0% bearish index-linked notes due April 13, 2023 linked to the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or below its initial level, the payout at maturity will be par plus 1% for every 1% that the index declines, subject to a maximum payout of par plus 50%
Otherwise, investors will lose 1% for every 1% of index gain.
The notes are guaranteed by Goldman Sachs Group, Inc.
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: | Bearish index-linked notes
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Underlying index: | Nasdaq-100 index
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Amount: | $1,051,000
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Maturity: | April 13, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index finishes flat or declines, par plus 1% for every 1% that the index declines, up to maximum payout of par plus 50%; otherwise, 1% loss for every 1% increase of the index from initial level
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Initial index level: | 13,267.61
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Pricing date: | March 8
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Settlement date: | March 11
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 1.93%
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Cusip: | 40057LF71
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