Published on 5/3/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $28,000 leveraged buffered notes linked to S&P 500 Value
By Angela McDaniels
Tacoma, Wash., May 3 – GS Finance Corp. priced $28,000 of 0% leveraged buffered index-linked notes due June 5, 2024 linked to the S&P 500 Value index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to the initial index level, the payout at maturity will be par plus 200% of the index return, subject to a maximum return of 25%. If the index declines by up to 10%, the payout will be par. Otherwise, investors will lose 1% for every 1% that the index declines beyond 10%.
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: | Leveraged buffered index-linked notes
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| Underlying indexes: | S&P 500 Value index
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| Amount: | $28,000
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| Maturity: | June 5, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final index level is greater than or equal to initial index level, par plus 200% of index return, subject to maximum return of 25%; if index declines by up to 10%, par; otherwise, 1% loss for every 1% that index declines beyond 10%
|
| Initial level | 1,481.59
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| Buffer level: | 90% of initial level
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| Pricing date: | May 31, 2022
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| Settlement date: | June 3, 2022
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 40057LXQ9
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