Published on 2/23/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $791,000 leveraged buffered notes linked to Russell
By Kiku Steinfeld
Chicago, Feb. 23 – GS Finance Corp. priced $791,000 of 0% leveraged buffered index-linked notes due June 26, 2025 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index gains the payout at maturity will be par plus 125% of the return of the index subject to a maximum return of par plus 27.5%. The payout will be par if the index declines but by no more than the 10% buffer. Investors will lose 1% for every 1% that the index declines beyond the buffer.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Leveraged buffered index-linked notes
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Underlying index: | Russell 2000 index
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Amount: | $791,000
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Maturity: | June 26, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains par plus 125% of index return subject to a maximum return of par plus 27.5%; par if index declines but by no more than 10% buffer; otherwise par minus of index decline beyond buffer
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Initial level: | 1,821.635
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Upside leverage: | 125%
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Cap: | 27.5%
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Buffer: | 10%
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Pricing date: | June 23, 2023
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Settlement date: | June 28, 2023
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 2%
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Cusip: | 40057T6M1
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