Published on 9/27/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $688,000 buffered basket-linked notes on eight stocks
Chicago, Sept. 27 – GS Finance Corp. priced $688,000 of 0% buffered basket-linked notes due Feb. 7, 2025 based on the performance of an unequally weighted basket of common stock of 15 companies, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The basket stocks are Apple Inc., Walt Disney Co., Meta Platforms, Inc., Home Depot, Inc., Microsoft Corp., Nvidia Corp., salesforce.com, inc. and Starbucks Corp. Each of the stocks has a 12.5% weight in the basket.
If the basket return is positive, the payout at maturity will be par plus the gain, subject to a maximum settlement amount of $1,315 per $1,000 principal amount.
If the basket falls by up to 15%, the payout will be par. Investors will lose 1 % for every 1% basket decline beyond 15%.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Buffered basket-linked notes
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| Underlying basket: | Apple Inc. (Nasdaq: AAPL), Walt Disney Co. (NYSE: DIS), Meta Platforms, Inc. (Nasdaq: FB), Home Depot, Inc. (NYSE: HD), Microsoft Corp. (Nasdaq: MSFT), Nvidia Corp. (Nasdaq: NVDA), salesforce.com, inc. (NYSE: CRM) and Starbucks Corp. (Nasdaq: SBUX); equal 12.5% weights
|
| Amount: | $688,000
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| Maturity: | Feb. 7, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus any basket gain, capped at par plus 31.5%; par if basket falls by up to 15%; 1% loss for every 1% basket decline beyond 15%
|
| Initial prices: | $172.39 for Apple, $142.02 for Disney, $237.09 for Meta, $359.67 for Home Depot, $305.94 Microsoft, $243.19 for Nvidia, $219.23 for salesforce and $95 for Starbucks
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| Buffer level: | 85% of initial level
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| Pricing date: | Feb. 4
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| Settlement date: | Feb. 9
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 3.2%
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| Cusip: | 40057KWV1
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