Published on 9/1/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $726,000 buffered digital index-linked notes on S&P
By Kiku Steinfeld
Chicago, Sept. 1 – GS Finance Corp. priced $726,000 of 0% buffered digital index-linked notes April 1, 2024 linked to 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 final level of the index is greater than or equal to the threshold level, 95% of its initial level, the payout at maturity will be par plus 5%.
If the index loses more than 5% but not more than 20%, the payout will be par the absolute value of the index return. Otherwise, investors will lose 1% for every 1% that the index declines beyond 20%.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Buffered digital index-linked notes
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| Underlying index: | S&P 500 index
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| Amount: | $726,000
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| Maturity: | April 1, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the final index level is greater than or equal to 95% threshold level, par plus 5%; if index loses more than 5% but no more than 20%, the absolute value of the index return; 1% loss for every 1% that index declines beyond 20%
|
| Initial index level: | 3,982.24
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| Threshold level: | 95% of initial level
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| Buffer level: | 80% of initial level
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| Pricing date: | Feb. 27, 2023
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| Settlement date: | March 2, 2023
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| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 1.93%
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| Cusip: | 40057PPL0
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