Published on 4/5/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $889,000 notes linked to S&P 500, Russell 2000
By Angela McDaniels
Tacoma, Wash., April 5 – GS Finance Corp. priced $889,000 of 0% index-linked notes due July 6, 2028 linked to the lesser performing of 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 positive or zero, the payout at maturity will be par plus 120% of the lesser performing index’s return.
If the return of either index is negative and the final level of each index is greater than or equal to 60% of its initial level, the payout will be par plus the absolute value of the lesser performing index’s return.
If the final level of either index is less than 60% of its initial level, investors will lose 1% for every 1% that the lesser performing index declines from its initial level.
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 the Russell 2000 index
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| Amount: | $889,000
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| Maturity: | July 6, 2028
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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 positive or zero, par plus 120% of lesser performing index’s return; if return of either index is negative and final level of each index is greater than or equal to barrier level, par plus absolute value of lesser performing index’s return; otherwise, 1% loss for every 1% that lesser performing index declines from initial level
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| Initial levels: | 4,450.38 for S&P and 1,888.734 for Russell
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| Barrier levels: | 60% of initial level
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| Pricing date: | June 30, 2023
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| Settlement date: | July 6, 2023
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 0.78%
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| Cusip: | 40057RZS0
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