Published on 9/18/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $521,000 callable contingent coupon index-linked notes
By Kiku Steinfeld
Chicago, Sept. 18 – GS Finance Corp. priced $521,000 of callable contingent coupon index-linked notes due March 8, 2030 tied to the Russell 2000 index, the Euro Stoxx 50 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent monthly coupon at an annual rate of 6% if each index closes at or above the coupon trigger level, 80% of the initial level, on the valuation date for that period.
The notes are callable on any quarterly valuation date starting in March 2024.
If the notes are not called and each index finishes at or above 80% of its initial level the payout will be par.
Otherwise, investors will be fully exposed to the losses of the worst performer.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon index-linked notes
|
| Underlying indexes: | Russell 2000 index, Euro Stoxx 50 index, Nasdaq-100 index
|
| Amount: | $521,000
|
| Maturity: | March 8, 2030
|
| Coupon: | 6% annualized rate, payable monthly if each index closes at or above coupon trigger level on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par if all indexes finish above trigger buffer levels; otherwise, full exposure to losses of worst performer
|
| Call option: | On any quarterly valuation date starting in March 2024
|
| Initial index levels: | 1,928.263 for Russell, 12,290.81 for Nasdaq, 4,294.80 for Stoxx
|
| Coupon trigger levels: | 80% of initial levels
|
| Trigger buffer levels: | 80% of initial levels
|
| Pricing date: | March 3, 2023
|
| Settlement date: | March 8, 2023
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 4.125%
|
| Cusip: | 40057PSZ6
|
|
|
© 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.
