Published on 6/16/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $9.91 million dual directional trigger PLUS linked to gold ETF
Chicago, June 16 – GS Finance Corp. priced $9.91 million of 0% dual directional trigger PLUS due June 4, 2025 linked to the VanEck Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the ETF is positive, the payout at maturity will be par plus 200% of the return of the ETF subject to a maximum return of par plus 46.1%. Investors will receive a 1% gain for each 1% loss if the ETF declines but finishes above the 75% trigger level and they will lose 1% for every 1% decline if the ETF ends below its principal barrier.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent. Morgan Stanley Wealth Management is the dealer.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Dual directional trigger PLUS
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Underlying ETF: | VanEck Gold Miners ETF
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Amount: | $9,912,000
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Maturity: | June 4, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If ETF return is positive, par plus 200% of ETF return subject to a maximum return of par plus 46.1%; 1% gain for each 1% loss if ETF declines but ends above trigger level; full exposure to loss if ETF ends below principal barrier
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Initial level: | $30.91
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Trigger level: | $23.1825, 75% of initial level
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Upside leverage: | 200%
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Cap: | 46.1%
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Pricing date: | May 31
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Settlement date: | June 5
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Agent: | Goldman Sachs & Co. LLC
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Dealer: | Morgan Stanley Wealth Management
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Fees: | 2.5%
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Cusip: | 40057RVU9
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