Published on 6/14/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $2.5 million index-linked notes tied to Russell, S&P
By William Gullotti
Buffalo, N.Y., June 14 – GS Finance Corp. priced $2.5 million of 0% index-linked notes due Aug. 26, 2024 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 each index finishes at or above its trigger buffer level, 75% of initial level, the payout at maturity will be par plus 13.18%.
Otherwise, investors will lose 1% for each 1% decline of the laggard index from its initial level.
Goldman Sachs & Co. LLC is the agent, with JPMorgan acting as placement 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: | $2.5 million
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| Maturity: | Aug. 26, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above trigger buffer level, par plus 13.18%; otherwise, lose 1% for each 1% decline of laggard index from initial level
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| Initial levels: | 1,767.94 for Russell, 4,221.02 for S&P
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| Trigger buffer levels: | 75% of initial levels
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| Strike date: | June 1
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| Pricing date: | June 2
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| Settlement date: | June 7
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| Agent: | Goldman Sachs & Co. LLC, with JPMorgan acting as placement agent
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| Fees: | 0.15%
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| Cusip: | 40057T7J7
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