Published on 2/23/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $1.72 million equity-linked notes tied to Advanced Micro Devices, Nvidia
By Wendy Van Sickle
Columbus, Ohio, Feb. 23 – GS Finance Corp. priced $1.72 million of 0% equity-linked notes due Aug. 20, 2025 linked to the performance of Nvidia Corp. and Advanced Micro Devices, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the laggard stock finishes at or above its initial value, the payout at maturity will be par plus three times the laggard stock return.
If the laggard stock finishes below its initial value but not lower than 80% of its initial value, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the laggard stock beyond 20%.
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: | Equity-linked notes
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Underlying stock: | Advanced Micro Devices, Inc. and Nvidia Corp.
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Amount: | $1,721,000
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Maturity: | Aug. 20, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If laggard stock finishes at or above initial value, par plus 3 times laggard stock return; if laggard stock declines but finishes at or above 80% of initial value, par; otherwise, lose 1% for every 1% decline of laggard stock beyond 20%
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Initial price: | $176.76 for Advanced Micro Devices, $726.58 for Nvidia
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Buffer level: | 80% of initial level
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Pricing date: | Feb. 15
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Settlement date: | Feb. 21
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 2.1%
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Cusip: | 40057YC27
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