Published on 4/26/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.66 million index-linked notes tied to Russell, S&P
By William Gullotti
Buffalo, N.Y., April 26 – GS Finance Corp. priced $1.66 million of 0% index-linked notes due April 3, 2025 linked to the least performing of the Russell 2000 index and 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 return of each index is zero or positive, the payout at maturity will be par plus the return of the laggard index, capped at par plus 45%.
If the least performing index falls by up to 25%, the payout will be par plus the absolute value of the worst performer’s return.
Otherwise, investors will be fully exposed to the decline of the worst performing index from its initial level.
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: | Index-linked notes
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| Underlying indexes: | Russell 2000 index, S&P 500 index
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| Amount: | $1,656,000
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| Maturity: | April 3, 2025
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If the return of each index is zero or positive, par plus the return of the laggard index, capped at par plus 45%; if any index falls but the final underlier level of each is greater than or equal to the 75% trigger buffer level, par plus the absolute return of the worst performer; if any index falls by more than 25%, investors will be fully exposed to the decline of the worst performing index from its initial level
|
| Initial levels: | 1,802.484 for Russell, 4,109.31 for S&P
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| Trigger buffer levels: | 75% of initial levels
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| Pricing date: | March 31
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| Settlement date: | April 5
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| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.8%
|
| Cusip: | 40057PUG5
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