Published on 1/8/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $229,000 leveraged notes linked to S&P 500 Daily Risk Control 5%, CPI
By Kiku Steinfeld
Chicago, Jan. 8 – GS Finance Corp. priced $229,000 of 0% leveraged index-linked notes due April 28, 2028 linked to the S&P 500 Daily Risk Control 5% USD Excess Return index and the U.S. City Average All Items Consumer Price Index for All Urban Consumers, according to a 424B2 filing with the Securities and Exchange Commission.
If the S&P index’s final level is greater than its initial level, the payout at maturity will be par plus 1.2 times the index return. Otherwise, the payout will be par.
If the level of the CPI for February 2028 is greater than the level of the CPI for February 2023, investors will also receive the percentage increase in the final CPI level from the initial CPI level.
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: | Leveraged index-linked notes
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| Underlying assets: | S&P 500 Daily Risk Control 5% USD Excess Return index and Consumer Price Index
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| Amount: | $229,000
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| Maturity: | April 28, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus S&P index return plus CPI return
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| S&P index return: | If final index level is greater than initial index level, 1.2 times index return; if final index level is less than or equal to initial index level, zero
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| CPI return: | If CPI level for February 2028 is greater than CPI level for February 2023, percentage increase in final CPI level from initial CPI level; otherwise, zero
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| Initial index level: | 159.06
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| Initial CPI level: | 300.840
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| Pricing date: | April 25, 2023
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| Settlement date: | April 28, 2023
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 3.81%
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| Cusip: | 40057REW4
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