Published on 1/2/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $757,000 notes linked to S&P 500, Russell 2000
By Angela McDaniels
Tacoma, Wash., Jan. 2 – GS Finance Corp. priced $757,000 of 0% index-linked notes due May 1, 2026 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of each index is greater than or equal to zero, the payout at maturity will be par plus 103.5% of the lesser performing index’s return.
If the return of either index is less than zero but the return of each index is greater than or equal to negative 20%, the payout will be par plus the absolute value of the lesser performing index’s return.
If the return of either index is less than negative 20%, investors will be exposed to the decline of the lesser performing index beyond 20%.
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: | S&P 500 index and Russell 2000 index
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| Amount: | $757,000
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| Maturity: | May 1, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If return of each index is greater than or equal to zero, par plus 103.5% of lesser performing index’s return; if return of either index is less than zero but return of each index is greater than or equal to negative 20%, par plus absolute value of lesser performing index’s return; if return of either index is less than negative 20%, exposure to decline of lesser performing index beyond 20%
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| Initial levels: | 4,169.48 for S&P and 1,768.987 for Russell
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| Buffer levels: | 80% of initial levels
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| Pricing date: | April 28, 2023
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| Settlement date: | May 3, 2023
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 1.2%
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| Cusip: | 40057RK72
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