Published on 2/7/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $100,000 additional buffered digital notes on S&P 500
By William Gullotti
Buffalo, N.Y., Feb. 7 – GS Finance Corp. sold an additional $100,000 of 0% buffered digital index-linked notes due Feb. 23, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The additional notes have identical terms, conditions and cusip as the initial $3,574,000 face amount of notes priced Jan. 18 and are likewise guaranteed by Goldman Sachs Group, Inc.
If the final level of the index is greater than or equal to its initial level, the payout at maturity will be par plus 8.2%.
If the index falls by no more than 15%, the payout will be par plus the absolute value of the index return.
Otherwise, investors will lose 1% for every 1% that the index declines beyond 15%.
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: | Buffered digital index-linked notes
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Underlying index: | S&P 500 index
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Amount: | $100,000, add-on
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Maturity: | Feb. 23, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the final index level is greater or equal to initial level, par plus 8.2%; if the index falls by no more than 15%, par plus the absolute value of the return; if the index falls by more than 15%, 1% loss for every 1% decline beyond 15%
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Initial index level: | 3,928.86
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Buffer value: | 85% of initial level
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Pricing date: | Feb. 3
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Settlement date: | Feb. 7
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 1.933%
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Cusip: | 40057PBG6
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Total issue: | $3,674,000, including initial $3,574,000 settled Jan. 23
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