Published on 11/2/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $411,000 index-linked notes on Russell, S&P, Dow
By Kiku Steinfeld
Chicago, Nov. 2 – GS Finance Corp. priced $411,000 of 0% index-linked notes due Feb. 27, 2025 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Dow Jones industrial average, 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 index is zero or positive, the payout at maturity will be 1.1 times the worst-performing index return.
If the least performing index falls by up to 10%, the payout will be par.
Otherwise, investors will be fully exposed to any losses of the worst performing index beyond 10% of its initial level.
Goldman Sachs & Co. LLC is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Index-linked notes
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Underlying indexes: | Russell 2000 index, S&P 500 index, Dow Jones industrial average
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Amount: | $411,000
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Maturity: | Feb. 27, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the return of each index is zero or positive, par plus 1.1 times the worst-performing index return; if any index falls but the final underlier level of each is greater than or equal to the trigger buffer level, par; if any index falls by more than 10%, investors will be fully exposed to the decline of the worst performing index beyond 10% of its initial level
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Initial levels: | 1,944.092 for Russell, 4,225.50 for S&P, 33,131.76 for Dow
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Trigger buffer levels: | 90% of initial levels
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Pricing date: | Feb. 23
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Settlement date: | Feb. 28
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 3.5%
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Cusip: | 40057KZ97
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