Published on 12/13/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $1.1 million notes linked to S&P 500 Daily Risk Control 5% index
By Angela McDaniels
Tacoma, Wash., Dec. 13 – GS Finance Corp. priced $1.1 million of 0% index-linked notes due April 2, 2026 linked to the S&P 500 Daily Risk Control 5% USD Excess Return index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive or zero, the payout at maturity will be par plus 1.9 times the index return.
If the index return is negative, the payout will be par plus the absolute value of the index return, subject to a maximum downside settlement amount of $2,000 for each $1,000 principal amount of notes.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
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 index: | S&P 500 Daily Risk Control 5% USD Excess Return index
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Amount: | $1,095,000
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Maturity: | April 2, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive or zero, par plus 1.9 times index return; if index return is negative, par plus absolute value of index return, subject to maximum downside settlement amount of $2,000 for each $1,000 principal amount of notes
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Initial level: | 159.04
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Pricing date: | March 30, 2023
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Settlement date: | April 4, 2023
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 2.25%
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Cusip: | 40057PU83
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