Published on 4/9/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $318,000 notes linked to S&P 500 Daily Risk Control 5%
By Angela McDaniels
Tacoma, Wash., April 9 – GS Finance Corp. priced $318,000 of 0% index-linked notes due Jan. 5, 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 200% of 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 per $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: | $318,000
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Maturity: | Jan. 5, 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 200% of index return; if index return is negative, par plus absolute value of index return, subject to maximum downside settlement amount of $2,000 per $1,000 principal amount of notes
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Initial level: | 163.89
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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: | 0.59%
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Cusip: | 40057RZW1
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