Published on 6/13/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $801,000 index-linked notes on Russell, S&P
By Kiku Steinfeld
Chicago, June 13 – GS Finance Corp. priced $801,000 of 0% index-linked notes due Jan. 31, 2028 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 each index finishes above its initial level, the payout at maturity will be par plus 1.15 times the return of the worst performer.
If at least one has declined and each index finishes at or above its 80% buffer level, the payout at maturity will be par.
Otherwise, investors will be fully exposed to the decline of the worst performing index beyond 20%.
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: | $801,000
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Maturity: | Jan. 31, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.15 times return of worst performer if both indexes finish positive; par if at least one index has declined but both finish at or above buffer levels; otherwise, 1% loss for each 1% decline beyond 20%
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Initial levels: | 1,903.064 for Russell, 4,060.43 for S&P
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Buffer levels: | 80% of initial levels
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Pricing date: | Jan. 26, 2023
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Settlement date: | Jan. 31, 2023
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 3.86%
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Cusip: | 40057PD90
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