Published on 5/1/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $507,000 autocallables linked to Dow, Nasdaq
By Angela McDaniels
Tacoma, Wash., May 1 – GS Finance Corp. priced $507,000 of 0% autocallable index-linked notes due June 7, 2024 linked to the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 14% if each index closes at or above its initial level on May 31, 2023.
If the notes are not called and the return of each index is positive, the payout at maturity will be par plus 1.25 times the return of the lesser-performing index. Investors will receive par if the lesser-performing index declines by up to 15%. Otherwise, investors will lose 1% for every 1% that the lesser-performing index declines beyond 15%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Autocallable index-linked notes
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Underlying indexes: | Dow Jones industrial average and Nasdaq-100 index
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Amount: | $507,000
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Maturity: | June 7, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.25 times return of lesser-performing index; par if lesser-performing index declines by up to 15%; otherwise, 1% loss for every 1% that lesser-performing index declines beyond 15%
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Call: | Automatically at par plus 14% if each index closes at or above initial level on May 31, 2023
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Initial levels: | 32,990.12 for Dow and 12,642.10 for Nasdaq
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Buffer levels: | 85% of initial levels
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Pricing date: | May 31, 2022
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Settlement date: | June 3, 2022
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 0.51%
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Cusip: | 40057LV81
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