Published on 10/10/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $1.38 million leveraged buffered index-linked notes on S&P
Chicago, Oct. 10 – GS Finance Corp. priced $1.38 million of 0% leveraged buffered index-linked notes due July 3, 2025 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 200% of the return of the index subject to a maximum return of par plus 15.8%. The payout will be par if the index declines but by no more than the 15% 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: | $1,375,000
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Maturity: | July 3, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains par plus 200% of index return subject to a maximum return of par plus 15.8%; par if index declines but by no more than 15% buffer; otherwise, par minus index decline beyond buffer
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Initial level: | 3,640.47
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Buffer level: | 85% of initial level
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Upside leverage: | 200%
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Cap: | 15.8%
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Buffer: | 15%
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Downside leverage: | 100%
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Pricing date: | Sept. 29, 2022
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Settlement date: | Oct. 4, 2022
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 2.85%
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Cusip: | 40057MZF9
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