Published on 11/14/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $11.19 million index-linked notes tied to Russell, S&P
By William Gullotti
Buffalo, N.Y., Nov. 14 – GS Finance Corp. priced $11.19 million of 0% index-linked notes due Nov. 15, 2027 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 initial level, the payout at maturity will be par plus 50.5%.
If the laggard index declines but finishes at or above trigger buffer level, 70% of initial level, the payout will be par plus 12%.
Otherwise, investors will lose 1% for each 1% decline of the laggard index from its initial level.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Index-linked notes
|
| Underlying indexes: | Russell 2000 index, S&P 500 index
|
| Amount: | $11,187,000
|
| Maturity: | Nov. 15, 2027
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above initial level, par plus 50.5%; if laggard index declines by no more than 30%, par plus 12%; otherwise, lose 1% for each 1% decline of laggard index from initial level
|
| Initial levels: | 1,687.239 for Russell, 4,347.35 for S&P
|
| Trigger buffer levels: | 70% of initial levels
|
| Pricing date: | Nov. 9
|
| Settlement date: | Nov. 14
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 1.6%
|
| Cusip: | 40057WP27
|
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