Published on 4/10/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $7.4 million capped buffer gears linked to S&P 500
By William Gullotti
Buffalo, N.Y., April 10 – GS Finance Corp. priced $7.4 million of 0% capped buffer gears due March 31, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par of $10 plus double the index return, capped at par plus 22.6%.
Investors will receive par if the index declines by 15% or less and lose 1% for every 1% that the index declines beyond 15%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent. UBS Financial Services Inc. is the selling agent.
| Issuer: | GS Finance Corp.
|
| Issue: | Capped buffer gears
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Underlying index: | S&P 500
|
| Amount: | $7,401,200
|
| Maturity: | March 31, 2025
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the index return is greater than zero, par plus two times the index return, capped at par plus 22.6%; par if the index declines by 15% or less; otherwise, 1% loss for every 1% decline beyond 15%
|
| Initial index level: | 3,971.27
|
| Buffer level: | 85% of initial level
|
| Pricing date: | March 28
|
| Settlement date: | March 31
|
| Agent: | Goldman Sachs & Co. LLC
|
| Selling agent: | UBS Financial Services Inc.
|
| Fees: | 2%
|
| Cusip: | 36265J284
|
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