Published on 10/19/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $239,000 index-linked notes on S&P, Russell
By Kiku Steinfeld
Chicago, Oct. 19 – GS Finance Corp. priced $239,000 of 0% index-linked notes due March 31, 2028 tied to the least 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.
The payout at maturity will be par plus 1.13 times the lesser performing index return if each index finishes at or above its initial level. If either index falls but not below 80% of its initial level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the least performing index declines 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: | S&P 500 index and the Russell 2000 index
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Amount: | $239,000
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Maturity: | March 31, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.13 times lesser performing index return if each index finishes at or above its initial level; par if either index falls but not below 80% of its initial level; otherwise, 1% loss for every 1% decline of least performing index beyond 20%
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Initial levels: | 3,971.27 for S&P and 1,752.632 for Russell
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Buffers: | 20% of initial levels
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Pricing date: | March 28, 2023
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Settlement date: | March 31, 2023
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 4.03%
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Cusip: | 40057PWD0
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