Published on 1/4/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $3.22 million capped buffered market-linked securities on stock basket
By William Gullotti
Buffalo, N.Y., Jan. 4 – GS Finance Corp. priced $3.22 million of 0% market-linked securities – upside participation to a cap and fixed percentage buffered downside due Dec. 18, 2026 linked to an equally-weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of Apple Inc., Nvidia Corp., Microsoft Corp., Alphabet Inc., Amazon.com, Inc., Tesla, Inc. and Meta Platforms, Inc.
If the basket finishes at or above its initial level, the payout at maturity will be par plus the return, subject to a maximum payout of par plus 50%.
Investors will receive par if the basket declines by no more than 20% and lose 1% for every 1% that the basket declines beyond 20%.
The securities are guaranteed by Goldman Sachs Group, Inc.
Wells Fargo Securities LLC and Goldman Sachs & Co. LLC are the agents.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Market-linked securities – upside participation to a cap and fixed percentage buffered downside
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Underlying stocks: | Apple Inc., Nvidia Corp., Microsoft Corp., Alphabet Inc., Amazon.com, Inc., Tesla, Inc., Meta Platforms, Inc.; equal weights
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Amount: | $3,217,000
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Maturity: | Dec. 18, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the basket finishes at or above initial level, par plus the return, capped at par plus 50%; par if basket falls by no more than 20%; otherwise, lose 1% for each 1% that the basket declines beyond 20%
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Initial levels: | $197.57 for Apple, $488.90 for Nvidia, $370.73 for Microsoft, $132.60 for Alphabet, $149.97 for Amazon, $253.50 for Tesla, $334.92 for Meta
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Threshold level: | 80% of initial level
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Pricing date: | Dec. 15
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Settlement date: | Dec. 20
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Agent: | Wells Fargo Securities LLC and Goldman Sachs & Co. LLC
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Fees: | 2.825%
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Cusip: | 40057XB20
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