Published on 11/16/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $4.21 million index-linked notes tied to S&P, Nasdaq
By William Gullotti
Buffalo, N.Y., Nov. 16 – GS Finance Corp. priced $4.21 million of 0% index-linked notes due Sept. 23, 2024 linked to the performance of the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the return of each index is zero or positive, the payout at maturity will be par plus 200% of the return of the laggard index, capped at par plus 33%.
If the least performing index falls by up to 20%, the payout will be par plus the absolute value of the worst performer’s return.
Otherwise, investors will be fully exposed to the decline of the worst performing index 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: | Index-linked notes
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| Underlying indexes: | S&P 500 index, Nasdaq-100 index
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| Amount: | $4,205,000
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| Maturity: | Sept. 23, 2024
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If the return of each index is zero or positive, par plus 200% of the return of the laggard index, capped at par plus 33%; if any index falls but the final underlier level of each is greater than or equal to the 80% trigger buffer level, par plus the absolute return of the worst performer; if any index falls by more than 20%, investors will be fully exposed to the decline of the worst performing index from its initial level
|
| Initial levels: | 3,693.23 for S&P, 11,311.24 for Nasdaq
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| Trigger buffer levels: | 80% of initial levels
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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
|
| Fees: | 2.55%
|
| Cusip: | 40057N4L8
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