Published on 4/22/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $8.1 million ETF-linked notes on gold, silver funds
By Wendy Van Sickle
Columbus, Ohio, April 22 – GS Finance Corp. priced $8.1 million of 0% ETF-linked notes due April 21, 2026 tied to the VanEck Gold Miners ETF and the iShares Silver trust , according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the return of each ETF is zero or positive, the payout at maturity will par plus 1.15 times the return of the least performing ETF, capped at par plus 90%.
If the least performing ETF falls by up to 30%, the payout will be par. Otherwise, investors will lose 1% for every 1% decline of the laggard ETF beyond 30%.
Goldman, Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | ETF-linked notes
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| Underlying ETFs: | VanEck Gold Miners ETF, iShares Silver trust
|
| Amount: | $8,098,000
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| Maturity: | April 21, 2026
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If laggard fund return is flat or positive, par plus 1.15 times laggard ETF return, capped at par plus 90%; if laggard ETF falls by up to 30%, par; otherwise, lose 1% for every 1% decline of the laggard ETF beyond 30%
|
| Initial values: | $33.76 for Gold Miners, $25.63 for iShares Silver
|
| Buffer levels: | 70% of initial levels
|
| Pricing date: | April 16
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| Settlement date: | April 19
|
| Agent: | Goldman, Sachs & Co. LLC
|
| Fees: | 0%
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| Cusip: | 40058A4S0
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