Published on 3/10/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $3.68 million leveraged index-linked notes on S&P 500
By William Gullotti
Buffalo, N.Y., March 10 – GS Finance Corp. priced $3.68 million of 0% leveraged index-linked notes due March 4, 2027 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 150% of the index return, capped at par plus 70.75%.
Investors will receive par if the index declines by no more than 20% and be fully exposed to decline if it declines beyond 20%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
Issuer: | GS Finance Corp.
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Issue: | Leveraged index-linked notes
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Underlying index: | S&P 500 index
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Amount: | $3,684,000
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Maturity: | March 4, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index return is positive, par plus 150% of the index return, capped at par plus 70.75%; par if index falls by no more than 20%; otherwise, 1% loss for every 1% decline from initial level
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Initial index level: | 3,951.39
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Trigger level: | 80% of initial level
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Pricing date: | March 1
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Settlement date: | March 6
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 0.8%
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Cusip: | 40057PV41
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