Published on 8/14/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $584,000 leveraged buffered notes linked to ETF, index basket
By Angela McDaniels
Tacoma, Wash., Aug. 14 – GS Finance Corp. priced $584,000 of 0% leveraged buffered basket-linked notes due Sept. 17, 2024 linked to the Invesco S&P 500 High Beta ETF with a 35% weight, the Russell 2000 index with a 20% weight, the Nasdaq-100 index with a 15% weight, the Euro Stoxx 50 index with a 15% weight and the iShares MSCI Emerging Markets ETF with a 15% weight, according to a 424B2 filing with the Securities and Exchange Commission.
If the final basket level is greater than the initial basket level, the payout at maturity will be par plus 200% of the basket return, subject to a maximum return of 30.5%.
If the final basket level is less than or equal to the initial basket level but greater than or equal to the 90% buffer level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the basket declines beyond 10%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Leveraged buffered basket-linked notes
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Underlying basket: | Invesco S&P 500 High Beta ETF (35% weight), Russell 2000 index (20% weight), Nasdaq-100 index (15% weight), Euro Stoxx 50 index (15% weight) and iShares MSCI Emerging Markets ETF (15% weight)
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Amount: | $584,000
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Maturity: | Sept. 17, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final basket level is greater than initial basket level, par plus 200% of basket return, subject to maximum return of 30.5%; if final basket level is less than or equal to initial basket level but greater than or equal to the 90% buffer level, par; otherwise, 1% loss for every 1% that basket declines beyond 10%
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Initial levels: | $68.52 for High Beta ETF, 1,906.086 for Russell, 12,739.72 for Nasdaq, 3,646.51 for Euro Stoxx and $39.58 for Emerging Markets ETF
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Buffer level: | 90% of initial level
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Pricing date: | Sept. 12, 2022
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Settlement date: | Sept. 15, 2022
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 0.8%
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Cusip: | 40057MZZ5
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