Published on 2/23/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $4.33 million digital underlier-linked notes on Stoxx index, iShares ETF
By William Gullotti
Buffalo, N.Y., Feb. 23 – GS Finance Corp. priced $4.33 million of 0% digital underlier-linked notes due Feb. 22, 2028 linked to the Euro Stoxx 50 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If each underlier finishes at or above its barrier level, 55% of initial value, the payout at maturity will be the greater of par plus 37.75% and par plus the lesser-performing underlier’s return.
Otherwise, investors will lose 1% for each 1% that the lesser-performing underlier declines from its initial value.
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: | Digital underlier-linked notes
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Underlying assets: | Euro Stoxx 50 index, iShares MSCI Emerging Markets ETF
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Amount: | $4,328,000
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Maturity: | Feb. 22, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each underlier finishes at or above barrier level, the greater of par plus 37.75% and par plus the return of the lesser-performing underlier; otherwise, 1% loss for every 1% decline in lesser-performing underlier from initial value
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Initial values: | $40.12 for ETF, 4,297.24 for index
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Barrier level: | 55% of initial levels
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Pricing date: | Feb. 16
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Settlement date: | Feb. 22
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 1.12%
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Cusip: | 40057PMQ2
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