Published on 11/16/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $758,000 leveraged buffered notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Nov. 16 – GS Finance Corp. priced $758,000 of 0% leveraged buffered index-linked notes due Nov. 5, 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 two times the index return, subject to a maximum settlement amount of $1,330 per $1,000 principal amount of notes. If the index return is zero or negative but not below negative 10%, the payout will be par. Otherwise, investors will lose 1% for every 1% that the index declines beyond 10%.
The notes are guaranteed by Goldman Sachs Group, Inc.
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: | Leveraged buffered index-linked notes
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Underlying index: | S&P 500 index
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Amount: | $758,000
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Maturity: | Nov. 5, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus two times index return, subject to maximum return of 33%; if index return is zero or negative but not below negative 10%, par; otherwise, 1% loss for every 1% that index declines beyond 10%
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Initial level: | 3,871.98
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Buffer level: | 90% of initial level
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Pricing date: | Oct. 31, 2022
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Settlement date: | Nov. 3, 2022
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 0.85%
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Cusip: | 40057NHX8
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