Published on 11/14/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $3.23 million leveraged basket-linked notes
By William Gullotti
Buffalo, N.Y., Nov. 14 – GS Finance Corp. priced $3.23 million of 0% leveraged notes due Nov. 14, 2028 linked to an equally-weighted index basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index and the Russell 2000 index.
The payout at maturity will be par plus 2.5 times the basket gain, subject to a maximum payout of par plus 68.3%.
Investors will receive par if the basket falls by no more than 25% and lose 1% for each 1% of basket decline if it finishes below its 75% barrier.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Leveraged index-linked notes
|
| Underlying indexes: | S&P 500 index, Russell 2000 index; equal weights
|
| Amount: | $3,225,000
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| Maturity: | Nov. 14, 2028
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If basket return is positive, par plus 2.5 times basket gain, up to par plus 68.3%; par if basket falls by no more than 25%; otherwise, 1% loss for every 1% that the basket declines from initial level
|
| Initial levels: | 4,347.35 for S&P, 1,687.239 for Russell
|
| Barrier level: | 75% of initial level
|
| Pricing date: | Nov. 9
|
| Settlement date: | Nov. 14
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 3%
|
| Cusip: | 40057X2J3
|
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