Published on 4/30/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $3.65 million leveraged buffered notes on S&P 500
By Kiku Steinfeld
Chicago, April 30 – GS Finance Corp. priced $3.65 million of 0% leveraged buffered index-linked notes due Sept. 6, 2024 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 200% of the return of the index subject to a maximum return of par plus 12%. The payout will be par plus the absolute return of the index if it declines but by no more than the 10% 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: | $3,647,000
|
| Maturity: | Sept. 6, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index gains par plus 200% of index return subject to a maximum return of par plus 12%; par plus absolute return of index if it declines but by no more than 10% buffer; otherwise par minus 100% of index decline beyond buffer
|
| Initial level: | 4,588.96
|
| Upside leverage: | 200%
|
| Cap: | 12%
|
| Buffer: | 10%
|
| Downside leverage: | 100%
|
| Pricing date: | July 31, 2023
|
| Settlement date: | Aug. 3, 2023
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.43%
|
| Cusip: | 40057THZ0
|
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