Published on 10/24/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.46 million index-linked notes on Nasdaq, S&P
By William Gullotti
Buffalo, N.Y., Oct. 24 – GS Finance Corp. priced $2.46 million of 0% index-linked notes due Oct. 22, 2025 linked to the least performing of the S&P 500 index and the Nasdaq-100 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 each index is zero or positive, the payout at maturity will be par plus 200% of the laggard index’s return, capped at par plus 35.25%.
If the least performing index falls by up to 10%, the payout will be par. Otherwise, investors will lose 1% for every 1% decline of the worst performer beyond 10%.
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: | Index-linked notes
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Underlying indexes: | S&P 500 index, Nasdaq-100 index
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Amount: | $2.46 million
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Maturity: | Oct. 22, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the return of each index is zero or positive, par plus 200% of the laggard index’s return, capped at par plus 35.25%; if any index falls but the final underlier level of each is greater than or equal to the 90% trigger buffer level, par; otherwise, 1% loss for every 1% decline of the worst performer beyond 10%
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Initial levels: | 4,314.6 for S&P, 14,909.26 for Nasdaq
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Trigger buffer levels: | 90% of initial levels
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Pricing date: | Oct. 18
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Settlement date: | Oct. 23
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.8%
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Cusip: | 40057WMC8
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