Published on 10/24/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.18 million leveraged index-linked notes on S&P 500
By William Gullotti
Buffalo, N.Y., Oct. 24 – GS Finance Corp. priced $2.18 million of 0% leveraged index-linked notes due Oct. 22, 2026 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 155% of the index return, capped at par plus 50%.
Investors will receive par if the index falls by no more than 20% and will lose 1% for every 1% decline if it finishes below its 80% trigger buffer level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
Issuer: | GS Finance Corp.
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Issue: | Leveraged index-linked notes
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Underlying index: | S&P 500 index
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Amount: | $2,181,000
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Maturity: | Oct. 22, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index return is positive, par plus 155% of the index return, capped at par plus 50%; if index falls by no more than 20%, par; otherwise, full exposure to loss
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Initial index level: | 4,314.6
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Trigger buffer level: | 80% of initial level
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Pricing date: | Oct. 18
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Settlement date: | Oct. 23
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 1.2%
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Cusip: | 40057WNS2
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