Published on 4/27/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $130,000 index-linked notes tied to Russell, S&P
Chicago, April 27 – GS Finance Corp. priced $130,000 of 0% index-linked notes due Aug. 31, 2023 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 return of each index is zero or positive, the payout at maturity will be par plus 1.1 times the return of the laggard index, capped at par plus 40%.
If the least performing index falls by up to 10%, the payout will be par plus the absolute value of the worst performer’s return.
Otherwise, investors will be fully exposed to the decline of the worst performing index from its initial level.
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: | Index-linked notes
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Underlying indexes: | Russell 2000 index, S&P 500 index
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Amount: | $130,000
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Maturity: | Aug. 31, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the return of each index is zero or positive, par plus 1.1 times the return of the laggard index, capped at par plus 40%; if any index falls but the final underlier level of each is greater than or equal to the 90% trigger buffer level, par plus the absolute return of the worst performer; if any index falls by more than 10%, investors will be fully exposed to the decline of the worst performing index from its initial level
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Initial levels: | 1,838.238 for Russell, 4,057.84 for S&P
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Trigger buffer levels: | 90% of initial levels
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Pricing date: | May 26, 2022
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Settlement date: | June 1, 2022
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 2.25%
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Cusip: | 40057LVJ7
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