Published on 5/17/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $3.28 million index-linked notes tied to S&P 500
By William Gullotti
Buffalo, N.Y., May 17 – GS Finance Corp. priced $3.28 million of 0% index-linked notes due May 30, 2024 linked to the performance of 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 the index is zero or positive, the payout at maturity will be par plus the index return, capped at par plus 7%.
If the index declines by no more than 29.15%, the payout at maturity will be par plus the absolute value of the index return. Otherwise, investors will be fully exposed to the decline of the index from its initial level.
Goldman Sachs & Co. LLC is the agent, with JPMorgan acting as placement agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Index-linked notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $3,277,000
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| Maturity: | May 30, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the index finishes flat or gains, par plus index return, capped at par plus 7%; if the index declines but finishes at or above trigger level, gain 1% for every 1% decline; otherwise, full exposure to index decline from initial level
|
| Initial level: | 4,124.08
|
| Trigger level: | 70.85% of initial level
|
| Pricing date: | May 12
|
| Settlement date: | May 17
|
| Agent: | Goldman Sachs & Co. LLC, with JPMorgan as placement agent
|
| Fees: | 1%
|
| Cusip: | 40057RUP1
|
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