Published on 6/14/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $400,000 notes linked to Nasdaq-100, Dow, Russell
By Angela McDaniels
Tacoma, Wash., June 14 – GS Finance Corp. priced $400,000 of 0% index-linked notes due July 29, 2027 linked to the Nasdaq-100 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return of each index is greater than or equal to zero, the payout at maturity will be par plus 305% of the least performing index’s return, subject to the maximum settlement amount of $1,750 per $1,000 principal amount of notes.
If the index return of any index is less than zero but the index return of each index is greater than or equal to negative 30%, the payout will be par.
If the index return of any index is less than negative 30%, investors will be exposed to the decline of the least performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
| 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: | Nasdaq-100 index, Dow Jones industrial average and Russell 2000 index
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| Amount: | $400,000
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| Maturity: | July 29, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index return of each index is greater than or equal to zero, par plus 305% of least performing index’s return, subject to maximum return of 75%; if index return of any index is less than zero but index return of each index is greater than or equal to negative 30%, par; if index return of any index is less than negative 30%, exposure to decline of least performing index
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| Initial levels: | 12,086.90 for Nasdaq, 31,761.54 for Dow and 1,805.246 for Russell
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| Barrier levels: | 70% of initial levels
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| Pricing date: | July 26, 2022
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| Settlement date: | July 29, 2022
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 3.75%
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| Cusip: | 40057MPJ2
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