Published on 12/15/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $2.59 million leveraged buffered basket-linked notes
By William Gullotti
Buffalo, N.Y., Dec. 15 – GS Finance Corp. priced $2.59 million of 0% leveraged buffered notes due Dec. 16, 2026 linked to a weighted basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index with a 35% weight, the iShares MSCI EAFE ETF with a 20% weight, the S&P MidCap 400 index with a 20% weight, the Russell 2000 index with an 12% weight and the iShares MSCI Emerging Markets ETF with a 13% weight.
The payout at maturity will be par plus 1.5 times the basket gain, with a maximum payout of par plus 50%.
Investors will receive par if the basket finishes flat or falls by up to 5% and will lose 1% for every 1% decline beyond 5%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Leveraged buffered basket-linked notes
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| Underlying assets: | S&P 500 index (35%), iShares MSCI EAFE ETF (20%), S&P MidCap 400 index (20%), Russell 2000 index (12%), iShares MSCI Emerging Markets ETF (13%)
|
| Amount: | $2,588,000
|
| Maturity: | Dec. 16, 2026
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If basket return is positive, par plus 1.5 times basket gain, up to par plus 50%; par if basket finishes flat or declines by up to 5%; 1% loss for every 1% decline beyond 5%
|
| Initial levels: | 4,622.44 for S&P 500, $73.32 for EAFE ETF, 2,645.95 for S&P MidCap, 1,883.681 for Russell, $39.24 for EM ETF
|
| Buffer level: | 95% of initial level
|
| Pricing date: | Dec. 11
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| Settlement date: | Dec. 14
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 1.2%
|
| Cusip: | 40057XF59
|
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