Published on 5/3/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $250,000 absolute return trigger notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., May 3 – GS Finance Corp. priced $250,000 of 0% absolute return trigger index-linked notes due June 5, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A barrier event will occur if the index closes above the upper barrier, 130% of the initial index level, or below the lower barrier, 70% of the initial index level, during the life of the notes.
If a barrier event has occurred, the payout at maturity will be par plus 7%. If a barrier event has not occurred, the payout will be par plus the absolute value of the index return.
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: | Absolute return trigger index-linked notes
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Underlying index: | S&P 500 index
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Amount: | $250,000
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Maturity: | June 5, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If barrier event has occurred, par plus 7%; if barrier event has not occurred, par plus absolute value of index return
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Barrier event: | Index closes above upper barrier or below lower barrier during life of notes
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Initial level: | 4,132.15
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Upper barrier: | 130% of initial index level
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Lower barrier: | 70% of initial index level
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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: | 0.5%
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Cusip: | 40057LZE4
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