Published on 8/11/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $2.41 million leveraged buffered basket-linked notes
By William Gullotti
Buffalo, N.Y., Aug. 11 – GS Finance Corp. priced $2.41 million of 0% leveraged buffered notes due Aug. 13, 2024 linked to a weighted basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Invesco S&P 500 High Beta ETF with a 35% weight, the Russell 2000 index with a 20% weight, the Nasdaq-100 index with a 15% weight, the Euro Stoxx 50 index with an 15% weight and the iShares MSCI Emerging Markets ETF with a 15% weight.
The payout at maturity will be par plus double the basket gain up with a maximum payout of par plus 28.85%.
Investors will receive par if the basket finishes flat or falls by up to 10% and will lose 1% for every 1% decline beyond 10%.
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.
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| Issue: | Leveraged buffered basket-linked notes
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| Underlying assets: | Invesco S&P 500 High Beta ETF (35%), Russell 2000 index (20%), Nasdaq-100 index (15%), Euro Stoxx 50 index (15%), iShares MSCI Emerging Markets ETF (15%)
|
| Amount: | $2,408,000
|
| Maturity: | Aug. 13, 2024
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If basket return is positive, par plus two times basket gain, up to par plus 28.85%; par if basket finishes flat or declines by up to 10%; 1% loss for every 1% decline beyond 10%
|
| Initial levels: | $69.42 for High Beta ETF, 1,941.206 for Russell, 13,159.16 for Nasdaq, 3,757.22 for Stoxx 50, $40.11 for MSCI EM ETF
|
| Buffer level: | 90% of initial level
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| Pricing date: | Aug. 8
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| Settlement date: | Aug. 11
|
| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.8%
|
| Cusip: | 40057MR27
|
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