Published on 11/8/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $16.26 million dual directional buffered participation securities on S&P
By Wendy Van Sickle
Columbus, Ohio, Nov. 8 – GS Finance Corp. priced $16.26 million of 0% dual directional buffered participation securities due Sept. 26, 2024 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 the index return, subject to a maximum return of par plus 27%.
Investors will receive par plus absolute return of the index if it declines by no more than 20% and will lose 1% for every 1% of index decline beyond 20%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent. Morgan Stanley Wealth Management is acting as dealer.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Dual directional buffered participation securities
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| Underlying index: | S&P 500 index
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| Amount: | $16,255,000
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| Maturity: | Sept. 26, 2024
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If return of index is positive, par plus index return, subject to a maximum return of par plus 27%; par plus absolute return of index if it declines by no more than 20%; otherwise, 1% loss for every 1% decline beyond 20%
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| Initial level: | 3,693.23
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| Cap: | 27%
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| Buffer: | 20%
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| Pricing date: | Sept. 23
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| Settlement date: | Sept. 28
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| Agent: | Goldman Sachs & Co. LLC
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 2.5%
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| Cusip: | 36264Q636
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