Published on 3/20/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $523,000 buffered notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., March 20 – GS Finance Corp. priced $523,000 of 0% buffered index-linked notes due July 8, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus the index return, subject to a maximum return of 13.7%. If the index declines by up to 15%, the payout will be par. Otherwise, investors will lose 1% for every 1% that the index declines beyond 15%.
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: | Buffered index-linked notes
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Underlying index: | S&P 500 index
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Amount: | $523,000
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Maturity: | July 8, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus index return, subject to maximum return of 13.7%; if index declines by up to 15%, par; otherwise, 1% loss for every 1% that index declines beyond 15%
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Initial level: | 4,450.38
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Buffer level: | 85% of initial level
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Pricing date: | June 30, 2023
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Settlement date: | July 6, 2023
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 0.5%
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Cusip: | 40057T6Z2
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