Published on 11/29/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $15.45 million leveraged buffered basket-linked notes on stock basket
Chicago, Nov. 29 – GS Finance Corp. priced $15.45 million of 0% leveraged buffered notes due Nov. 25, 2025 linked to an equally-weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of Applied Materials, Inc., Advanced Micro Devices, Inc., Amazon.com, Inc., Salesforce, Inc., CrowdStrike Holdings, Inc., Datadog, Inc., Alphabet Inc., Marvell Technology, Inc., Microsoft Corp., ServiceNow, Inc., Nvidia Corp. and Oracle Corp.
The payout at maturity will be par plus double the basket gain up with a maximum payout of par plus 42.64%.
Investors will receive par if the basket finishes flat or falls by up to 15% and will lose 1.1765% for every 1% decline beyond 15%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent, with JPMorgan acting as placement agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Leveraged buffered basket-linked notes
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| Underlying basket: | Applied Materials, Inc., Advanced Micro Devices, Inc., Amazon.com, Inc., Salesforce, Inc., CrowdStrike Holdings, Inc., Datadog, Inc., Alphabet Inc., Marvell Technology, Inc., Microsoft Corp., ServiceNow, Inc., Nvidia Corp. and Oracle Corp.; equal weights
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| Amount: | $15,454,000
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| Maturity: | Nov. 25, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If basket return is positive, par plus two times basket gain, up to par plus 42.64%; par if basket finishes flat or declines by up to 15%; otherwise, 1.1765% loss for every 1% decline beyond 15%
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| Initial levels: | $149.48 for Applied Materials, $122.51 for AMD, $146.71 for Amazon, $223.84 for Salesforce, $209.61 for CrowdStrike, $112.13 for Datadog, $138.49 for Alphabet, $55.50 for Marvell, $377.85 for Microsoft, $669.66 for ServiceNow, $487.16 for Nvidia, $116.24 for Oracle
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| Buffer level: | 85% of initial level
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| Pricing date: | Nov. 22
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| Settlement date: | Nov. 30
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| Agent: | Goldman Sachs & Co. LLC, with JPMorgan acting as placement agent
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| Fees: | 1.5%
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| Cusip: | 40057WZ75
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