Published on 10/24/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $3.62 million buffered PLUS linked to a weighted index basket
By William Gullotti
Buffalo, N.Y., Oct. 24 – GS Finance Corp. priced $3.62 million of 0% buffered Performance Leveraged Upside Securities due April 23, 2026 tied to a weighted basket of indexes according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index with a 50% weight, the Euro Stoxx 50 index with a 25% weight, the MSCI Emerging Markets index with a 10% weight, the Russell 3000 index with a 7.5% weight and the Topix index with a 7.5% weight.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the basket return is positive, the payout at maturity will be par plus 300% of the basket return, subject to a maximum payment of par plus 34%.
Investors will receive par if the basket declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
Goldman Sachs & Co. LLC is the underwriter. Morgan Stanley Wealth Management is acting as dealer.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Buffered Performance Leveraged Upside Securities
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| Underlying basket: | S&P 500 index (50% weight), Euro Stoxx 50 index (25% weight), MSCI Emerging Markets index (10% weight), Russell 3000 index (7.5% weight), Topix index (7.5% weight)
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| Amount: | $3.62 million
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| Maturity: | April 23, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If basket gains, par plus 300% of basket gain, capped at par plus 34%; par if basket declines by 10% or less; otherwise, 1% loss for every 1% that basket declines beyond 10%
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| Initial levels: | 4,314.6 for S&P, 4,105.86 for Stoxx, 943.12 for MSCI EM, 1,728.809 for Russell, 2,295.34 for Topix
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| Buffer level: | 90% of initial level
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| Pricing date: | Oct. 18
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| Settlement date: | Oct. 23
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| Underwriter: | Goldman Sachs & Co. LLC
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 1%
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| Cusip: | 40057WQS9
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