Published on 7/18/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.41 million leveraged buffered basket-linked notes
By William Gullotti
Buffalo, N.Y., July 18– GS Finance Corp. priced $1.41 million of 0% leveraged buffered notes due Jan. 8, 2024 linked to a weighted basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 36% weight, the Topix index with a 26% weight, the FTSE 100 index with a 17% weight, the Swiss Market index with a 12% weight and the S&P/ASX 200 index with a 9% weight.
The payout at maturity will be par plus 300% of the basket gain, subject to a maximum payout of par plus 22.86%.
Investors will receive par if the basket finishes flat or falls by up to 10% and will lose 1.1111% 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.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Leveraged buffered index-linked notes
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| Underlying assets: | Euro Stoxx 50 index (36%), Topix index (26%), FTSE 100 index (17%), Swiss Market index (12%), S&P/ASX 200 index (9%)
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| Amount: | $1.41 million
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| Maturity: | Jan. 8, 2024
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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 300% of basket gain, up to par plus 22.86%; par if basket finishes flat or declines by up to 10%; otherwise, 1.1111% loss for every 1% decline beyond 10%
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| Initial levels: | 3,448.31 for Stoxx, 1,845.04 for Topix, 7,168.65 for FTSE, 10,770.4 for Swiss Market, 6,539.913 for S&P/ASX 200
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| Buffer level: | 90% of initial level
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| Pricing date: | July 1
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| Settlement date: | July 11
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 1.13%
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| Cusip: | 40057MJ83
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