By Kiku Steinfeld
Chicago, March 20 – GS Finance Corp. priced $223,000 of 0% leveraged ETF-linked notes due June 4, 2025 tied to the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par plus 2 times the ETF return, subject to a maximum payout of par plus 38.5%.
If the ETF is flat or declines by up to 25%, the payout will be par plus the absolute value of the return.
Otherwise, investors will be fully exposed to the decline of the ETF from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
Issuer: | GS Finance Corp.
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Issue: | Leveraged ETF-linked notes
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Underlying ETF: | iShares MSCI EAFE
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Amount: | $223,000
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Maturity: | June 4, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the ETF return is positive, par plus 2 times the ETF return, capped par plus at 38.5%; if the ETF is flat or declines by up to 25%, par plus the absolute value of the return; otherwise, investors will be fully exposed to the decline of the ETF from its initial level
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Initial ETF level: | $67.12
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Trigger level: | 75% of initial level
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Pricing date: | Nov. 30, 2022
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Settlement date: | Dec. 5, 2022
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 1%
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Cusip: | 40057NUY1
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