Published on 2/29/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $497,000 index-linked notes on Dow Select Dividend, S&P
By Kiku Steinfeld
Chicago, Feb. 29 – GS Finance Corp. priced $497,000 of 0% index-linked notes due Jan. 2, 2026 linked to the least performing of the Dow Jones U.S. Select Dividend index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the return of each index is zero or positive, the payout at maturity will be par plus 1.1 times the return of the least performing index, capped at par plus 75%.
If the least performing index falls by up to 15%, the payout will be par plus the absolute value of the return of that index. Otherwise, investors will be exposed to losses of the worst performing index in excess of its 15% buffer.
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: | Index-linked notes
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| Underlying indexes: | Dow Jones U.S. Select Dividend index, S&P 500 index
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| Amount: | $497,000
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| Maturity: | Jan. 2, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the return of each index is zero or positive, par plus 1.1 times the return of the least performing index, capped at par plus 75%; if any index falls but the final underlier level of each is greater than or equal to the buffer level, par plus absolute value of return of worse performing index; if any index falls by more than 15%, investors will be exposed to the decline of the worst performing index beyond buffer
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| Initial levels: | 802.30 for Dow Select, 4,378.41 for S&P
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| Buffer levels: | 85% of initial levels
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| Pricing date: | June 27, 2023
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| Settlement date: | June 30, 2023
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 3%
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| Cusip: | 40057T2U7
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