Published on 7/8/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $9.55 million PLUS on index, ETF basket
By Wendy Van Sickle
Columbus, Ohio, July 8 – GS Finance Corp. priced $9.55 million of 0% Performance Leveraged Upside Securities due Jan. 5, 2023 linked to a basket of indexes and an exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The basket consists of the Russell 2000 index with a 25% weight, the iShares MSCI Emerging Markets ETF with a 15% weight, the VanEck Vectors Gold Miners ETF with a 15% weight, the Euro Stoxx 50 index with a 15% weight, the Topix index with a 10% weight, the iShares Silver trust with a 10% weight and the iShares Biotechnology ETF with a 10% weight.
If the basket return is positive, the payout at maturity will be par plus two times the basket return, subject to a maximum settlement amount of $11.08 per $10.00 principal amount.
Investors will lose 1% for every 1% that the basket declines from its initial level.
Goldman Sachs & Co. LLC is the underwriter. Morgan Stanley Wealth Management is acting as dealer.
Issuer: | GS Finance Corp.
|
Guarantor: | Goldman Sachs Group, Inc.
|
Issue: | Performance Leveraged Upside Securities
|
Underlying assets: | Russell 2000 index (25% weight), iShares MSCI Emerging Markets ETF (15% weight), VanEck Vectors Gold Miners ETF (15% weight), Euro Stoxx 50 index (15% weight), Topix index (10% weight), iShares Silver trust (10% weight) and iShares Biotechnology ETF (10% weight)
|
Amount: | $9,550,500
|
Maturity: | Jan. 5, 2023
|
Coupon: | 0%
|
Price: | Par of $10.00
|
Payout at maturity: | If basket return is positive, par plus two times the basket return, capped at payout of par plus 10.8%; otherwise, full exposure to losses of basket
|
Initial levels: | 1,707.99 for Russell, $40.10 for MSCI EM, $27.38 for Gold ETF, 3,454.86 for Stoxx, 1,870.82 | for Topix, $18.64 for silver and $117.76 for biotech fund
|
Pricing date: | June 30
|
Settlement date: | July 6
|
Underwriter: | Goldman Sachs & Co. LLC
|
Dealer: | Morgan Stanley Wealth Management
|
Fees: | 1.75%
|
Cusip: | 36263Q728
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.