Published on 2/25/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $859,000 index-linked notes on Russell, S&P
By Kiku Steinfeld
Chicago, Feb. 26 – GS Finance Corp. priced $859,000 of 0% index-linked notes due June 30, 2028 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 the return of each index is zero or positive, the payout at maturity will be par plus 1.2 times the return of the laggard index.
Investors will receive par if the worst performer declines but finishes above the 80% buffer level.
Otherwise, investors will lose 1% loss for each 1% decline beyond the 20% buffer.
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: | Index-linked notes
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Underlying indexes: | Russell 2000 index, S&P 500 index
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Amount: | $859,000
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Maturity: | June 30, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the return of each index is zero or positive, par plus 1.2 times return of laggard index; par if laggard index declines but finishes above buffer level; otherwise, 1% loss for each 1% decline beyond buffer
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Initial levels: | 1,849.930 for Russell, 4,378.41 for S&P
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Buffer levels: | 80% of initial levels
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Pricing date: | June 27, 2023
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Settlement date: | June 30, 2023
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 3.98%
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Cusip: | 40057T2H6
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