Published on 5/6/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $735,000 leveraged buffered index-linked notes linked to S&P 500
By Kiku Steinfeld
Chicago, May 8 – GS Finance Corp. priced $735,000 of 0% leveraged buffered index-linked notes due Jan. 3, 2028 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index gains, the payout at maturity will be par plus 105% of the return of the index. The payout will be par if the index declines but by no more than the 25% buffer. Investors will lose 1% for every 1% that the index declines beyond the buffer.
The notes are guaranteed by Goldman Sachs Group, Inc.
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: | Leveraged buffered index-linked notes
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Underlying index: | S&P 500 index
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Amount: | $735,000
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Maturity: | Jan. 3, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains, par plus 105% of index return; par if index declines but by no more than buffer; otherwise 1% loss for every 1% that the index declines beyond the buffer
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Initial level: | 3,849.28
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Upside leverage: | 105%
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Cap: | None
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Buffer: | 25%
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Downside leverage: | 100%
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Pricing date: | Dec. 29, 2022
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Settlement date: | Jan. 4, 2023
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.78%
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Cusip: | 40057P3M2
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