Published on 10/30/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $554,000 index-linked notes on Russell, Nasdaq, Dow
By Kiku Steinfeld
Chicago, Oct. 30 – GS Finance Corp. priced $554,000 of 0% index-linked notes due April 5, 2028 linked to the least performing of the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, 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 par plus the greater of 52.7% and the return of the least performing index.
If the least performing index falls by up to 20%, the payout will be par.
Otherwise, investors will be fully exposed to any losses of the worst performing index beyond 20%.
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: | Russell 2000 index, Nasdaq-100 index, Dow Jones industrial average
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Amount: | $554,000
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Maturity: | April 5, 2028
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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 greater of 52.7% and the return of the least performing index; if any index falls but the final underlier level of each is greater than or equal to the buffer level, par; if any index falls by more than 20%, investors will be fully exposed to the decline of the worst performing index beyond buffer
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Initial levels: | 1,802.484 for Russell, 13,181.35 for Nasdaq, 33,274.15 for Dow
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Buffer levels: | 80% of initial levels
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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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Fees: | 0.56%
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Cusip: | 40057RAA6
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