Published on 12/2/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.79 million index-linked notes on Russell, Nasdaq, Dow
By William Gullotti
Buffalo, N.Y., Dec. 2 – GS Finance Corp. priced $1.79 million of 0% index-linked notes due Nov. 26, 2027 linked to the least performing of the Russell 2000 index, the Dow Jones industrial average and the Nasdaq-100 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 the greater of par plus 57.5% and par plus the return of the least performing index.
If the least performing index falls by up to 30%, the payout will be par plus the absolute value of the worst performer’s return.
Otherwise, investors will be fully exposed to any losses of the worst performing index from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Index-linked notes
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| Underlying indexes: | Russell 2000 index, Dow Jones industrial average, Nasdaq-100 index
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| Amount: | $1,793,000
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| Maturity: | Nov. 26, 2027
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the return of each index is zero or positive, the greater of par plus 57.5% and par plus the return of the least performing index; if any index falls but the final underlier level of each is greater than or equal to the 70% trigger buffer level, par plus the absolute return of the worst performer; if any index falls by more than 30%, investors will be fully exposed to the decline of the worst performing index from its initial level
|
| Initial levels: | 1,860.441 for Russell, 34,098.1 for Dow, 11,724.84 for Nasdaq
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| Trigger buffer levels: | 70% of initial levels
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| Pricing date: | Nov. 22
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| Settlement date: | Nov. 28
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| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 4.01%
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| Cusip: | 40057NU47
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