Published on 10/27/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $7.66 million dual directional trigger PLUS linked to S&P 500
By Kiku Steinfeld
Chicago, Oct. 27 – GS Finance Corp. priced $7.66 million of 0% dual directional trigger PLUS due May 3, 2024 linked 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 110.4% of the index return.
Investors will receive a 1% gain for each 1% loss if the index return is negative but ends at or above the 80% trigger and will lose 1% for every 1% decline if it ends below the trigger level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Dual directional trigger PLUS
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| Underlying index: | S&P 500 index
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| Amount: | $7,661,910
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| Maturity: | May 3, 2024
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If index return is positive, par plus 110.4% of index return; a 1% gain for each 1% loss if index declines but finishes at or above trigger level; otherwise, 1% loss for every 1% that index declines from initial level
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| Initial level: | 4,109.31
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| Trigger level: | 3,287.448, 80% of initial level
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| Upside leverage: | 110.4%
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| Pricing date: | March 31, 2023
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| Settlement date: | April 5, 2023
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| Agent: | Goldman Sachs & Co. LLC
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 2.25%
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| Cusip: | 36265J177
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