Published on 12/12/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $536,000 leveraged buffered basket-linked notes
Chicago, Dec. 12 – GS Finance Corp. priced $536,000 of 0% leveraged buffered notes due May 13, 2025 linked to an unequally-weighted basket of indexes and ETFs, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of 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.
The payout at maturity will be par plus two times the basket gain, capped at par plus 29.5%.
Investors will receive par if the basket finishes flat or falls by up to 10% and will lose 1% for every 1% decline beyond 10%.
The notes are guaranteed by Goldman Sachs Group, Inc.
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: | Leveraged buffered basket-linked notes
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| Underlying assets: | 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: | $536,000
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| Maturity: | May 13, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If basket return is positive, par plus two times basket gain, capped at par plus 29.5%; par if basket finishes flat or declines by up to 10%; 1% loss for every 1% decline beyond 10%
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| Initial levels: | $66.29 for High Beta, 1,754.47 for Russell, 13,291.64 for Nasdaq, 4,348.65 for Stoxx, $39.41 for EM ETF
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| Buffer level: | 90% of initial level
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| Pricing date: | May 8, 2023
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| Settlement date: | May 11, 2023
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.8%
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| Cusip: | 40057RNY0
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