Published on 7/5/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $1.67 million leveraged buffered index-linked notes on S&P MidCap 400
By William Gullotti
Buffalo, N.Y., July 5 – GS Finance Corp. priced $1.67 million of 0% leveraged buffered index-linked notes due Oct. 31, 2024 tied to the S&P MidCap 400 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the index return is positive, investors will receive par plus 1.5 times the index gain, capped at par plus 23%.
If the index return is flat or falls by up to 10%, investors will receive par. Investors will lose 1% for every 1% decline beyond 10%.
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: | Leveraged buffered index-linked notes
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Underlying index: | S&P MidCap 400 index
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Amount: | $1,665,000
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Maturity: | Oct. 31, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.5 times the index gain, capped at par plus 23%; if index return is flat or falls by up to 10%, par; 1% loss for every 1% decline beyond 10%
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Initial index level: | 2,575.0
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Buffer level: | 90% of initial level
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Pricing date: | June 28
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Settlement date: | July 3
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Agent: | Goldman Sachs & Co. LLC
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Fees: | None
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Cusip: | 40057TDM3
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