Published on 10/4/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $500,000 callable contingent coupon index-linked notes on three indexes
By Kiku Steinfeld
Chicago, Oct. 4 – GS Finance Corp. priced $500,000 of callable contingent coupon index-linked notes due March 26, 2026 tied to the Nasdaq-100 index, the S&P 500 index and the Russell 2000 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 contingent monthly coupon at an annual rate of 7.05% if each index closes at or above the coupon trigger level, 80% of the initial level, on the valuation date for that period.
The notes may be called at par plus any coupon due on any monthly call observation date after six months.
If the notes have not been called and each index finishes at or above its coupon trigger level, the payout at maturity will be par plus the final coupon.
If the worst performer finishes below its coupon trigger level but not below its 80% trigger buffer level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Callable contingent coupon index-linked notes
|
| Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
|
| Amount: | $500,000
|
| Maturity: | March 26, 2026
|
| Coupon: | 7.05% annualized rate, payable monthly if each index closes at or above coupon trigger level, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above coupon trigger level, par plus final coupon; if worst performer finishes below coupon trigger but at or above trigger buffer, par; otherwise, full exposure to decline of worst performer from initial level
|
| Call: | At par plus any coupon due on any monthly call observation date after six months
|
| Initial index levels: | 4,002.87 for S&P, 1,777.740 for Russell, 12,741.44 for Nasdaq
|
| Trigger buffer levels: | 80% of initial levels
|
| Coupon trigger levels: | 80% of initial levels
|
| Pricing date: | March 21, 2023
|
| Settlement date: | March 24, 2023
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.65%
|
| Cusip: | 40057R5U8
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
