Published on 1/21/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $68,000 index-linked notes on S&P, Russell
By Kiku Steinfeld
Chicago, Jan. 22 – GS Finance Corp. priced $68,000 of 0% index-linked notes due June 5, 2026 linked to 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 lesser performing index finishes at or above 75% of its initial level, the payout at maturity will be par plus 30%.
If any index finishes below 75% of its initial level but no index closes below 70%, the payout will be par.
Otherwise, investors will be fully exposed to the losses of the worst performer.
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, Russell 2000 index
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| Amount: | $68,000
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| Maturity: | June 5, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 30% if both indexes close at or above 75% threshold levels; par if least performing index finishes below threshold level but not below trigger buffer level; otherwise, full exposure to losses of worst performer
|
| Initial index levels: | 4,282.37 for S&P, 1,830.906 for Russell
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| Threshold levels: | 75% of initial levels
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| Trigger buffer levels: | 70% of initial levels
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| Pricing date: | June 2, 2023
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| Settlement date: | June 7, 2023
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0%
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| Cusip: | 40057RXL7
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