Published on 7/26/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.5 million buffered index-linked notes on S&P MidCap 400
By William Gullotti
Buffalo, N.Y., July 26 – GS Finance Corp. priced $2.5 million of 0% buffered index-linked notes due July 31, 2024 based on the performance of 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.
The payout at maturity will be par plus any index gain, up to the maximum settlement amount of $1,100 per $1,000 principal amount of notes.
If the index falls by up to 25.05%, the payout will be par plus the absolute value of the index return.
Otherwise, investors will lose 1.3342% for every 1% decline beyond 25.05%.
Goldman, Sachs & Co. LLC is the agent. JPMorgan is the placement agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Buffered index-linked notes
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| Underlying index: | S&P MidCap 400
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| Amount: | $2.5 million
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| Maturity: | July 31, 2024
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| Coupon: | 0%
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| Price: | Par
|
| Payout at maturity: | Par plus any index gain, capped $1,100 per $1,000 principal amount of notes; if index falls by up to 25.05%, par plus absolute value of index return; otherwise, 1.3342% loss for every 1% decline beyond 25.05%
|
| Initial index level: | 2,419.8
|
| Buffer level: | 74.95% of initial level
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| Strike date: | May 25
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| Pricing date: | May 26
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| Settlement date: | June 1
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| Agent: | Goldman, Sachs & Co. LLC, with JPMorgan as placement agent
|
| Fees: | 0.35%
|
| Cusip: | 40057T3T9
|
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