Published on 10/10/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $3.39 million bearish PLUS linked inversely to S&P
By William Gullotti
Buffalo, N.Y., Oct. 10 – GS Finance Corp. priced $3.39 million of 0% bearish Performance Leveraged Upside Securities due April 3, 2024 linked inversely 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.
The payout at maturity will be par plus 300% of the absolute value of any index decline, up to a maximum payment of par plus 35%.
Investors will lose 1% for each 1% index gain, with a minimum payout of zero.
Goldman Sachs & Co. LLC is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Bearish Performance Leveraged Upside Securities
|
| Underlying index: | S&P 500 index
|
| Amount: | $3,392,000
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| Maturity: | April 3, 2024
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 300% of the absolute value of any index decline, up to a maximum payment of par plus 35%; otherwise, investors will lose 1% for each 1% index gain, with a minimum payout of zero
|
| Initial level: | 4,288.05
|
| Pricing date: | Sept. 29
|
| Settlement date: | Oct. 4
|
| Agent: | Goldman Sachs & Co. LLC with Morgan Stanley Wealth Management handling distribution
|
| Fees: | 1.5%
|
| Cusip: | 40057WBP1
|
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