Published on 9/7/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $218,000 index-linked notes on Russell, S&P
By Kiku Steinfeld
Chicago, Sept. 7 – GS Finance Corp. priced $218,000 of 0% index-linked notes due March 2, 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 the return of each index is zero or positive, the payout at maturity will be par plus 110% of the return of the laggard index.
If any index declines but by no more than 40%, the payout will be par plus the absolute return of the laggard index.
If any index falls by more than 40%, investors will be exposed to the losses of the laggard index.
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: | $218,000
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Maturity: | March 2, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the return of each index is zero or positive, par plus 1.1 times the return of the laggard index; if any index declines but not below trigger level, par plus absolute return of laggard index; any index falls below trigger level, investors will be fully exposed to the decline of laggard index
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Initial levels: | 1,896.991 for Russell, 3,970.15 for S&P
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Trigger levels: | 60% of initial levels
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Pricing date: | Feb. 28, 2023
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Settlement date: | March 3, 2023
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.97%
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Cusip: | 40057PL42
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