Published on 12/19/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $3.32 million index-linked notes linked to S&P, Dow
By Wendy Van Sickle
Columbus, Ohio, Dec. 19 – GS Finance Corp. priced $3.32 million of 0% index-linked notes due Oct. 28, 2027 linked to the performance of the S&P 500 index and the Dow Jones industrial average, 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 the greater of 64.5% and the return of the laggard index.
If the laggard index falls by up to 30%, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the laggard index.
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: | S&P 500 index, Dow Jones industrial average
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Amount: | $3,317,000
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Maturity: | Oct. 28, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the return of each index is zero or positive, par plus greater of the laggard index and 64.5%; if any index falls but the final underlier level of each is greater than or equal to the 70% trigger level, par; otherwise, 1% loss for each 1% decline of the laggard index
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Initial levels: | 3,797.34 for S&P, 31,499.62 for Dow
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Trigger levels: | 70% of initial levels
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Pricing date: | Oct. 24
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Settlement date: | Oct. 27
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0%
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Cusip: | 40057NPF8
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