Published on 6/30/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $500,000 equity-linked notes on FedEx
Chicago, June 30 – GS Finance Corp. priced $500,000 of 0% equity-linked notes due July 10, 2023 tied to the common stock of FedEx Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the stock finishes at or above its initial level, the payout will be par plus the return, capped at $1,320 for each $1,000 face amount.
If the stock declines by up to 35%, the payout will be par.
Otherwise, investors will be fully exposed to the decline.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Equity-linked notes
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| Underlying stock: | FedEx Corp.
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| Amount: | $500,000
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| Maturity: | July 10, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the stock finishes at or above its initial level, par plus the return, capped at $1,320 for each $1,000 face amount; if the stock declines by up to 35%, par; otherwise, full exposure to decline of stock
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| Initial stock price: | $223.61
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| Trigger buffer price: | 65% of initial price
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| Pricing date: | July 1, 2022
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| Settlement date: | July 7, 2022
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 0.75%
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| Cusip: | 40057MHL6
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