Published on 12/11/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.59 million contingent upside participation market-linked notes on S&P
By William Gullotti
Buffalo, N.Y., Dec. 11 – GS Finance Corp. priced $1.59 million of 0% market-linked securities – upside participation with contingent minimum return, contingent absolute return and contingent downside due Nov. 2, 2028 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes flat or gains, the payout at maturity will be the greater of par plus 40% and par plus the index return.
Investors will gain 1% for each 1% decline if the index falls by no more than 20% and will lose 1% for every 1% decline if the index declines by more than 20%.
The securities are guaranteed by Goldman Sachs Group, Inc.
Wells Fargo Securities, LLC and Goldman Sachs & Co. LLC are the agents.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Market-linked securities – upside participation with contingent minimum return, contingent absolute return and contingent downside
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Underlying: | S&P 500 index
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Amount: | $1,591,000
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Maturity: | Nov. 2, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes flat or gains, greater of par plus 40% and par plus the index return; if index falls by up to 20%, par plus absolute value of index return; otherwise, 1% loss for every 1% decline of index from initial level
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Initial level: | 4,567.8
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Threshold level: | 80% of initial level
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Pricing date: | Nov. 30
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Settlement date: | Dec. 5
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Agent: | Wells Fargo Securities, LLC and Goldman Sachs & Co. LLC
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Fees: | 3.87%
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Cusip: | 40057WYQ4
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