Published on 9/26/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $590,000 variable coupon index-linked notes on Russell, S&P
Sept. 26 – GS Finance Corp. priced $590,000 of variable coupon notes due Sept. 29, 2025 linked to 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.
The notes will pay a variable coupon of 5.6% if each index closes at or above its initial level on the corresponding monthly review date. If either index closes below its initial level on the observation date, investors will instead receive a 1.5% coupon.
The payout at maturity will be par plus the relevant coupon.
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: | Variable coupon index-linked notes
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| Underlying indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $590,000
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| Maturity: | Sept. 29, 2025
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| Coupon: | 5.6% annual rate if each index closes at or above initial level on relevant monthly review date; if either index closes below its initial level on the review date, the coupon will be 1.5%
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| Price: | Par
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| Payout at maturity: | Par plus the relevant coupon
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| Initial levels: | 1,722.31 for Russell, 3,757.99 for S&P
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| Pricing date: | Sept. 22, 2022
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| Settlement date: | Sept. 27, 2022
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 2.75%
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| Cusip: | 40057NCC9
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