Published on 2/1/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $5.35 million contingent income callable notes linked to indexes
Chicago, Feb. 1 – GS Finance Corp. priced $5.35 million of contingent income callable securities due May 3, 2024 linked to the least performing of the Euro Stoxx 50 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 10.4% per year if each index closes at or above its coupon barrier, 70% of its initial level, on every day that quarter.
The notes are callable at par plus the coupon, if any, on any quarterly coupon payment date other than the final one.
If each index finishes at or above its downside threshold level, 70% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to decline of the least-performing index from its initial level.
The notes are guaranteed by Goldman Sachs Group Inc.
Goldman Sachs & Co. LLC is the underwriter. Morgan Stanley Wealth Management is the dealer.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group Inc.
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| Issue: | Contingent income callable securities
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| Underlying indexes: | Euro Stoxx 50 index, S&P 500 index and Russell 2000 index
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| Amount: | $5,346,000
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| Maturity: | May 3, 2024
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| Coupon: | 10.4% per year, payable quarterly if each index closes at or above coupon barrier level on every day of that quarter
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above downside threshold level, par plus coupon, if any; otherwise, full exposure to least-performing index’s decline from initial level
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| Call option: | Callable at par on any quarterly coupon payment date except final one
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| Initial levels: | 4,131.93 for S&P, 1,864.103 for Russell and 3,802.86 for Stoxx
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| Coupon barriers: | 2,892.351 for S&P, 1,304.8721 for Russell and 2,662.002 for Stoxx; 70% of initial levels
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| Downside thresholds: | 2,892.351 for S&P, 1,304.8721 for Russell and 2,662.002 for Stoxx; 70% of initial levels
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| Pricing date: | April 29, 2022
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| Settlement date: | May 5, 2022
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| Underwriter: | Goldman Sachs & Co. LLC
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 2%
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| Cusip: | 40057LUT6
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