Published on 7/12/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $9.55 million PLUS notes linked to mixed basket
By William Gullotti
Buffalo, N.Y., July 12 – GS Finance Corp. priced $9.55 million of 0% Performance Leveraged Upside Securities due Jan. 5, 2023 linked to the performance of a weighted basket of indexes and ETFs, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The basket is comprised of the Russell 2000 index with a 25% weight, the iShares MSCI Emerging Markets ETF with a 15% weight, the VanEck Vectors Gold Miners ETF with a 15% weight, the Euro Stoxx 50 index with a 15% weight, the Topix index with a 10% weight, the iShares Silver Trust with a 10% weight and the iShares Biotechnology ETF with a 10% weight
If the basket finishes at or above its initial level, the payout at maturity will be par plus 200% of the return, subject to a maximum payout of par plus 10.8%.
Investors will be exposed to any losses.
Goldman Sachs & Co. LLC is the underwriter. Morgan Stanley Wealth Management is the dealer.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Performance Leveraged Upside Securities
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| Underlying assets: | Russell 2000 index (25% weight), iShares MSCI Emerging Markets ETF (15% weight), VanEck Vectors Gold Miners ETF (15% weight), Euro Stoxx 50 index (15% weight), Topix index (10% weight), iShares Silver Trust (10% weight), iShares Biotechnology ETF (10% weight)
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| Amount: | $9,550,500
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| Maturity: | Jan. 5, 2023
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If the basket finishes at or above its initial level, par plus 200% of the gain, subject to maximum payout of par plus 10.8%; full exposure to any decline
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| Initial levels: | 1,707.99 for Russell, $40.10 for iShares MSCI EM, $27.38 for VanEck Gold, 3,454.86 for Stoxx, 1,870.82 for Topix, $18.64 for iShares Silver, $117.63 for iShares Biotechnology
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| Pricing date: | June 30
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| Settlement date: | July 6
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| Underwriter: | Goldman Sachs & Co. LLC
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 3.5%
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| Cusip: | 36263Q728
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