Published on 4/17/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $670,000 index-linked notes on Russell, S&P
Chicago, April 17 – GS Finance Corp. priced $670,000 of 0% index-linked notes due May 23, 2024 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 1.01 times the return of the laggard index.
If the worse performer declines but not beyond 15%, the payout will be par plus the absolute value of that return.
Otherwise, investors will be exposed to the losses of the worst performer beyond the 15% 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: | $670,000
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| Maturity: | May 23, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If both indexes finish positive, par plus 1.01 times return of worse performer; par plus absolute value of worse performer if that index declines but not beyond 15%; otherwise, exposure to losses of worst performer beyond 15% buffer
|
| Initial levels: | 1,773.266 for Russell, 3,901.36 for S&P
|
| Buffer level: | 85% of initial level
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| Pricing date: | May 20, 2022
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| Settlement date: | May 25, 2022
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 40057M4D8
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