Published on 3/23/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $3.82 million index-linked notes on Russell, S&P
By William Gullotti
Buffalo, N.Y., March 23 – GS Finance Corp. priced $3.82 million of 0% index-linked notes due April 4, 2024 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the laggard index finishes at or above the 60% trigger buffer level, the payout at maturity will be par plus 8.54%.
Otherwise, investors will be fully exposed to the decline of the laggard index from its initial level.
Goldman Sachs & Co. LLC is the agent, with JPMorgan acting as placement agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Index-linked notes
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| Underlying indexes: | Russell 2000 index, S&P 500 index
|
| Amount: | $3,815,000
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| Maturity: | April 4, 2024
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index’s final level is greater than or equal to trigger buffer level, par plus 8.54%; otherwise, investors will be fully exposed to the decline of the laggard index from its initial level
|
| Initial levels: | 1,759.85 for Russell, 3,934.38 for S&P
|
| Trigger buffer levels: | 60% of initial levels
|
| Strike date: | March 16
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| Pricing date: | March 17
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| Settlement date: | March 22
|
| Agent: | Goldman Sachs & Co. LLC, with JPMorgan acting as placement agent
|
| Fees: | 0.5%
|
| Cusip: | 40057R5Q7
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