Published on 5/17/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $590,000 contingent coupon underlier-linked notes on indexes, ETF
Chicago, May 17 – GS Finance Corp. priced $590,000 of 0% contingent coupon underlier-linked notes due June 30, 2025 linked to the performance of the S&P 500 index, the Russell 2000 Value index and the VanEck Junior Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a monthly contingent coupon at an annual rate of 10.8% if each underlier closes at or above its 60% coupon trigger level on the relevant observation date.
If each underlier finishes at or above its 60% trigger buffer level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will be fully exposed to the decline of the least performer from its initial level.
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: | Contingent coupon underlier-linked notes
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| Underlying assets: | S&P 500 index, Russell 2000 Value index, VanEck Junior Gold Miners ETF
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| Amount: | $590,000
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| Maturity: | June 30, 2025
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| Coupon: | 10.8% annual rate, payable monthly if all underliers close at or above coupon trigger levels on the relevant observation date
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon if all underliers finish at or above trigger buffer level; otherwise, full exposure to decline of worst performer from its initial level
|
| Initial levels: | 3,764.79 for S&P, 2,054.677 for Russell Value, $36.75 for ETF
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| Coupon trigger levels: | 60% of initial levels
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| Trigger buffer levels: | 60% of initial levels
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| Pricing date: | June 21, 2022
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| Settlement date: | June 24, 2022
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 40057MF53
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