Published on 8/24/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.35 million buffered index-linked notes on S&P 500
By William Gullotti
Buffalo, N.Y., Aug. 24 – GS Finance Corp. priced $1.35 million of 0% buffered index-linked notes due Aug. 22, 2024 based on the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the index finishes flat or positive, the payout at maturity will be $1,167.50 per $1,000 principal amount of notes.
If the index falls by up to 20%, the payout will be par plus the absolute value of the index return.
Otherwise, investors will lose 1% for every 1% decline beyond 20%.
Goldman, Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Buffered index-linked notes
|
| Underlying index: | S&P 500
|
| Amount: | $1,346,000
|
| Maturity: | Aug. 22, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the index finishes flat or gains, $1,167.50 per $1,000 principal amount of notes; if index falls by up to 20%, par plus the absolute value of the index return; 1% loss for every 1% decline beyond 20%
|
| Initial index level: | 4,228.48
|
| Buffer level: | 80% of initial level
|
| Pricing date: | Aug. 19
|
| Settlement date: | Aug. 24
|
| Agent: | Goldman, Sachs & Co. LLC
|
| Fees: | 0.8%
|
| Cusip: | 40057MUU1
|
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