Published on 1/30/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $18.29 million leveraged buffered basket-linked notes on stock basket
By Wendy Van Sickle
Columbus, Ohio, Jan. 30 – GS Finance Corp. priced $18.29 million of 0% leveraged buffered notes due July 31, 2025 linked to an equally-weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of Alphabet Inc., Advanced Micro Devices, Inc., Amazon.com, Inc., Salesforce, Inc., CrowdStrike Holdings, Inc., Datadog, Inc., Equinix, Inc., Alphabet Inc., Marvell Technology, Inc., Microsoft Corp., ServiceNow, Inc., Nvidia Corp., Oracle Corp., Shopify Inc. and Snowflake Inc.
The payout at maturity will be par plus double the basket gain up with a maximum payout of par plus 25.06%.
Investors will receive par if the basket finishes flat or falls by up to 15% and will lose 1.1765% for every 1% decline beyond 15%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent, with JPMorgan acting as placement agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Leveraged buffered basket-linked notes
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| Underlying basket: | Advanced Micro Devices, Inc., Amazon.com, Inc., Applied Materials, Inc., Salesforce, Inc., CrowdStrike Holdings, Inc., Datadog, Inc., Equinix, Inc., Alphabet Inc., Marvell Technology, Inc., Microsoft Corp., ServiceNow, Inc., Nvidia Corp., Quanta Services, Inc., Oracle Corp., Shopify Inc., Snowflake Inc.; equal weights
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| Amount: | $18,292,000
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| Maturity: | July 31, 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, up to par plus 25.06%; par if basket finishes flat or declines by up to 15%; otherwise, 1.1765% loss for every 1% decline beyond 15%
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| Initial levels: | $151.87 for Alphabet, $180.33 for AMD, $157.75 for Amazon, $172.63 for Applied Materials, $279.03 for Salesforce, $293.46 for CrowdStrike, $122.19 for Datadog, $815.31 for Equinix, $70.00 for Marvell, $404.87 for Microsoft,$766.69 for ServiceNow, $616.17 for Nvidia, $115.00 for Oracle, $197.99 for Quanta, $80.49 for Shopify, $206.01 for Snowflake
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| Buffer level: | 85% of initial level
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| Pricing date: | Jan. 25
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| Settlement date: | Jan. 31
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| Agent: | Goldman Sachs & Co. LLC, with JPMorgan acting as placement agent
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| Fees: | 1.25%
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| Cusip: | 40057XNA9
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