Published on 6/23/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $469,000 index-linked notes linked to Russell, S&P
By Angela McDaniels
Tacoma, Wash., June 23 – GS Finance Corp. priced $469,000 of 0% index-linked notes due July 29, 2027 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of each index is greater than or equal to its initial level, the payout at maturity will be par plus 1.15 times the return of the lesser performing index.
If the final level of any index is less than its initial level but the final level of each index is greater than or equal to 80% of its initial level, the payout will be par.
If the final level of any index is less than 80% of its initial level, investors will lose 1% for every 1% that the lesser performing index declines beyond 20%.
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: | Index-linked notes
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| Underlying indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $469,000
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| Maturity: | July 29, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of each index is greater than or equal to initial level, par plus 1.15 times return of lesser performing index; if final level of any index is less than initial level but final level of each index is greater than or equal to buffer level, par; otherwise, 1% loss for every 1% that lesser performing index declines beyond 20%
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| Initial levels: | 1,805.246 for Russell and 3,921.05 for S&P
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| Buffer levels: | 80% of initial levels
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| Pricing date: | July 26, 2022
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| Settlement date: | July 29, 2022
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 3.98%
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| Cusip: | 40057MK57
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