Published on 12/19/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $5.98 million leveraged buffered basket-linked notes on 7 indexes
New York, Dec. 19 – GS Finance Corp. priced $2.59 million of 0% leveraged buffered notes due Dec. 16, 2026 linked to a weighted basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 Futures Excess Return index with a 65% weight, the Euro Stoxx 50 index with a 10.08% weight, the Topix index with a 7.56% weight), the MSCI Emerging Markets index with a 7% weight, the FTSE 100 index with a 5.32% weight, the Swiss Market index with a 2.8% weight and the S&P/ASX 200 index with a 2.24% weight.
The payout at maturity will be par plus 1.44 times the basket gain.
Investors will receive par plus the absolute value of any decline if the basket falls but by no more than the 20% buffer. The payout will be par less 125% of the decline beyond the 20% buffer if the basket finishes below the buffer.
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 indexes: | S&P 500 Futures Excess Return index (65% weight), Euro Stoxx 50 index (10.08% weight), Topix index (7.56% weight), MSCI Emerging Markets index (7% weight), FTSE 100 index (5.32% weight), Swiss Market index (2.8% weight), S&P/ASX 200 index (2.24% weight)
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| Amount: | $5,976,000
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| Maturity: | Dec. 11, 2026
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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 1.44 times basket gain; par plus absolute value of loss if basket finishes flat or declines by up to 20%; 1.25% loss for every 1% decline beyond 20%
|
| Initial levels: | 408.97 for S&P 500 Futures Excess Return, 4,523.31 for Euro Stoxx 50, 2,324.47 for Topix, 975.01 for MSCI Emerging Markets, 7,554.47 for FTSE 100, 11,071.77 for Swiss Market, 7,194.917 for S&P/ASX 200
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| Upside leverage: | 144%
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| Buffer level: | 80% of initial level
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| Downside leverage: | 125%
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| Pricing date: | Dec. 8
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| Settlement date: | Dec. 13
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 40057XH81
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