Published on 4/30/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $1.15 million leveraged buffered notes on S&P 500
By Kiku Steinfeld
Chicago, April 30 – GS Finance Corp. priced $1.15 million of 0% leveraged buffered index-linked notes due Aug. 3, 2028 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index gains the payout at maturity will be par plus 110% of the return of the index. The payout will be par if the index declines but by no more than the 25% buffer. Investors will lose 100% of any index decline beyond the buffer.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Leveraged buffered index-linked notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $1,146,000
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| Maturity: | Aug. 3, 2028
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index gains par plus 110% of index return; par if index declines but by no more than 25% buffer; otherwise par minus 100% of index decline beyond buffer
|
| Initial level: | 4,588.96
|
| Upside leverage: | 110%
|
| Cap: | None
|
| Buffer: | 25%
|
| Downside leverage: | 100%
|
| Pricing date: | July 31, 2023
|
| Settlement date: | Aug. 3, 2023
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.75%
|
| Cusip: | 40057THF4
|
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