Published on 5/22/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $606,000 autocallable index-linked notes tied to Dow, S&P
Chicago, May 22 – GS Finance Corp. priced $606,000 of 0% autocallable index-linked notes due July 6, 2027 tied to 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 closes at or above 110% of its initial level on any quarterly call observation date starting after one year, the notes will be called and investors will receive par plus 90% of the return of the lesser performer.
If the notes are not called and each index finishes at or above its initial level, the payout will be par plus 0.9 times the return of the laggard index.
If the worst performer declines but finishes at or above 60% of its initial level, the payout will be par.
If any index falls by more than 40%, investors will be exposed to the decline of the worst performing index from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
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: | Autocallable index-linked notes
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| Underlying indexes: | S&P 500 index, Dow Jones industrial average
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| Amount: | $606,000
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| Maturity: | July 6, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the notes are not called and each index finishes at or above its initial level, par plus 0.9 times the return of the laggard index; if worst performer finishes above 60% of initial level, par; otherwise, investors will be exposed to the decline of the worst performing index from its initial level
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| Call: | If each index closes at or above 110% of initial level on any quarterly call observation date starting after one year, notes will be called at par plus 90% of return of lesser performer
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| Initial index levels: | 3,900.11 for S&P, 31,438.26 for Dow
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| Trigger buffer levels: | 60% of initial levels
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| Pricing date: | June 27, 2022
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| Settlement date: | June 30, 2022
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 4.1%
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| Cusip: | 40057MD97
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