Published on 5/1/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $500,000 index-linked notes tied to S&P, Dow
Chicago, May 1 – GS Finance Corp. priced $500,000 of 0% index-linked notes due June 15, 2027 linked to the least performing of the S&P 500 index and the Dow Jones industrial average, 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 1.05 times the return of the laggard index.
If the least performing index falls by up to 50%, the payout will be par.
Otherwise, the loss will be based on a buffer rate of two times the sum of the lesser underlier return plus the 50% buffer.
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: | S&P 500 index, Dow Jones industrial average
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Amount: | $500,000
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Maturity: | June 15, 2027
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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 1.05 times the return of the laggard index; if any index falls but the final underlier level of each is greater than or equal to the 50% buffer level, par; if any index falls by more than 50%, investors will have a loss based on a buffer rate of two times the sum of the lesser underlier return plus the 50% buffer
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Initial levels: | 3,900.86 for S&P, 31,392.79 for Dow
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Buffer levels: | 50% of initial levels
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Pricing date: | June 10, 2022
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Settlement date: | June 15, 2022
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.25%
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Cusip: | 40057MDM8
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