Published on 6/16/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $600,000 index-linked notes on Russell, S&P
Chicago, June 16 – GS Finance Corp. priced $600,000 of 0% index-linked notes due Sept. 6, 2024 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If both indexes finish above 80% of their initial levels, investors will receive par plus 9%.
Otherwise, investors will be exposed to losses of the worst performer beyond the 20% 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: | S&P 500 index, Russell 2000 index
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Amount: | $600,000
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Maturity: | Sept. 6, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 9% if both indexes finish above buffer levels; otherwise, 1% loss for each 1% decline beyond 20% buffer
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Initial levels: | 4,179.83 for S&P, 1,749.65 for Russell
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Buffer levels: | 80% of initial levels
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Pricing date: | May 31
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Settlement date: | June 5
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 2.1%
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Cusip: | 40057RZE1
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