Published on 6/7/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.42 million leveraged participation market-linked notes on indexes
By William Gullotti
Buffalo, N.Y., June 7 – GS Finance Corp. priced $1.42 million of 0% market-linked securities – leveraged upside participation and contingent downside due June 5, 2028 linked to the performance of the Russell 2000 index, the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its initial level, the payout at maturity will be par plus 1.6 times the return of the least performing index.
If the worst performer declines by up to 25%, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
The securities are guaranteed by Goldman Sachs Group, Inc.
Wells Fargo Securities LLC and Goldman Sachs & Co. LLC are the agents.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Market-linked securities – leveraged upside participation and contingent downside
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Dow Jones industrial average
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| Amount: | $1.42 million
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| Maturity: | June 5, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above initial level, par plus 1.6 times the return of the least performing index; if the worst performer declines by up to 25%, par; otherwise, lose 1% for every 1% decline of the worst performer from its initial level
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| Initial levels: | 32,990.12 for Dow, 1,864.043 for Russell, 4,132.15 for S&P
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| Buffer levels: | 75% of initial levels
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| Pricing date: | May 31
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| Settlement date: | June 3
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| Agent: | Wells Fargo Securities LLC and Goldman Sachs & Co. LLC
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| Fees: | 4.24%
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| Cusip: | 40057LWS6
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