Published on 10/26/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $6.05 million Buffered PLUS linked to S&P 500
By Kiku Steinfeld
Chicago, Oct. 26 – GS Finance Corp. priced $6.05 million of 0% Buffered PLUS due Oct. 3, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 150% of the index return subject to a maximum return of par plus 15%. Investors will receive par if the index declines by 15% or less and will lose 1% for every 1% that it declines beyond 15%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter. Morgan Stanley Wealth Management is acting as dealer.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Buffered PLUS
|
| Underlying index: | S&P 500 index
|
| Amount: | $6,047,630
|
| Maturity: | Oct. 3, 2024
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index return is positive, par plus 150% of index return subject to a maximum return of par plus 15%; par if index declines by 15% or less; 1% loss for every 1% that index declines beyond 15%
|
| Initial level: | 4,109.31
|
| Buffer: | 15%
|
| Upside leverage: | 150%
|
| Cap: | 15%
|
| Pricing date: | March 31, 2023
|
| Settlement date: | April 5, 2023
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Selected dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 36265J185
|
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