Published on 11/27/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.11 million contingent coupon index-linked notes on Dow, S&P
By William Gullotti
Buffalo, N.Y., Nov. 27 – GS Finance Corp. priced $1.11 million of contingent coupon index-linked notes due Nov. 22, 2027 tied to the S&P 500 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.
The notes will pay a contingent semiannual coupon at an annual rate of 8.7% if each index closes at or above the coupon trigger level, 75% of the initial level, on the valuation date for that period.
The payout at maturity will be par plus the final coupon if each index finishes at or above 75% of initial level.
Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
Goldman Sachs & Co. LLC is the agent.
Issuer: | GS Finance Corp.
|
Guarantor: | Goldman Sachs Group, Inc.
|
Issue: | Contingent coupon index-linked notes
|
Underlying indexes: | Dow Jones industrial average, S&P 500 index
|
Amount: | $1,109,000
|
Maturity: | Nov. 22, 2027
|
Coupon: | 8.7% annualized rate, payable semiannually if each index closes at or above coupon trigger level, on valuation date for that period
|
Price: | Par
|
Payout at maturity: | If each index finishes at or above trigger buffer level, par plus final coupon; otherwise, lose 1% for each 1% decline of worst performer from initial level
|
Initial index levels: | 34,947.28 for Dow, 4,514.02 for S&P
|
Trigger buffer level: | 75% of initial levels
|
Coupon trigger level: | 75% of initial levels
|
Pricing date: | Nov. 17
|
Settlement date: | Nov. 22
|
Agent: | Goldman Sachs & Co. LLC
|
Fees: | None
|
Cusip: | 40057WWS2
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.