Published on 9/14/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $12.89 million leveraged buffered basket-linked notes
Chicago, Sept. 14 – GS Finance Corp. priced $12.89 million of 0% leveraged buffered notes due Aug. 29, 2025 linked to an equally-weighted basket of 13 stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of Applied Materials, Inc., Advanced Micro Devices, Inc., Amazon.com, Inc., Salesforce, Inc., CrowdStrike Holdings, Inc., Datadog, Inc., Alphabet Inc., Marvell Technology, Inc., Microsoft Corp., ServiceNow, Inc., Nvidia Corp., Oracle Corp. and Palo Alto Networks, Inc., each with a 7.692% weight.
The payout at maturity will be par plus two times the basket gain, capped at par plus 39%.
Investors will receive par if the basket finishes flat or falls by up to 15% and will lose 1.1765% for every 1% decline beyond 15%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent with JPMorgan as placement agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Leveraged buffered basket-linked notes
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| Underlying basket: | Applied Materials, Inc. (Nasdaq: AMAT), Advanced Micro Devices, Inc. (Nasdaq: AMD), Amazon.com, Inc. (Nasdaq: AMZN), Salesforce, Inc. (NYSE: CRM), CrowdStrike Holdings, Inc. (Nasdaq: CRWD), Datadog, Inc. (Nasdaq: DDOG), Alphabet Inc. (Nasdaq: GOOGL), Marvell Technology, Inc. (Nasdaq: MRVL), Microsoft Corp. (Nasdaq: MSFT), ServiceNow, Inc. (NYSE: NOW), Nvidia Corp. (Nasdaq: NVDA), Oracle Corp. (NYSE: ORCL) and Palo Alto Networks, Inc. (Nasdaq: PANW), each with a 7.692% weight
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| Amount: | $12,887,000
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| Maturity: | Aug. 29, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If basket return is positive, par plus two times basket gain, capped at par plus 39%; par if basket finishes flat or declines by up to 15%; 1.1765% loss for every 1% decline beyond 15%
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| Initial levels: | $145.42 for Applied Materials, $102.61 for AMD, $133.14 for Amazon, $211.72 for Salesforce, $144.03 for CrowdStrike, $92.54 for Datadog, $131.01 for Alphabet, $55.17 for Marvell, $323.70 for Microsoft, $568.31 for ServiceNow, $468.35 for Nvidia, $116.84 for Oracle and $232.42 for Palo Alto
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| Buffer level: | 85% of initial level
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| Pricing date: | Aug. 28
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| Settlement date: | Aug. 31
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| Agent: | Goldman Sachs & Co. LLC with JPMorgan as placement agent
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| Fees: | 1.5%
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| Cusip: | 40057TQP2
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