Published on 2/21/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $240,000 leveraged market-linked notes on stock basket
By Kiku Steinfeld
Chicago, Feb. 21 – GS Finance Corp. sold $240,000 of 0% market-linked securities with leveraged upside participation to a cap and contingent downside due May 21, 2024 linked to a basket of three stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket components are the shares of Intel Corp. (33.34% weight), Nvidia Corp. (33.33% weight) and Micron Technology, Inc. (33.33% weight).
The payout at maturity will be par plus 250% of any basket gain, subject to a 50% maximum gain.
Investors will receive par if the basket falls by up to 20% and will lose 1% for every 1% decline below its initial level if it declines by more than 20%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC and Wells Fargo Securities, LLC are the agents.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Market-linked securities with leveraged upside participation to a cap and contingent downside
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| Underlying basket: | Intel Corp. (33.34% weight), Nvidia Corp. (33.33% weight) and Micron Technology, Inc. (33.33% weight)
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| Amount: | $240,000
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| Maturity: | May 21, 2024
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| Coupon: 0%
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| Price: | Par
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| Payout at maturity: | Par plus 250% of any basket gain, subject to 50% maximum gain; par if the basket falls by up to 20%; otherwise, 1% loss for every 1% decline below its initial level
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| Initial levels: | $29.53 for Intel, $159.10 for Nvidia, $58.87 for Micron
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| Threshold level: | 80% of initial level
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| Pricing date: | Nov. 16, 2022
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| Settlement date: | Nov. 21, 2022
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| Agents: | Goldman Sachs & Co. LLC and Wells Fargo Securities, LLC
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| Fees: | 2.07%
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| Cusip: | 40057NVX2
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