Published on 8/19/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $1.08 million leveraged buffered index-linked notes linked to Russell 2000
By Kiku Steinfeld
Chicago, Aug. 21 – GS Finance Corp. priced $1.08 million of 0% leveraged buffered index-linked notes due March 1, 2027 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index gains, the payout at maturity will be par plus 150% of the return of the index subject to a maximum return of par plus 40.333%. The payout will be par if the index declines but by no more than the 15% buffer. Investors will lose 1% for every 1% that the index declines beyond the buffer.
The notes are guaranteed by Goldman Sachs Group, Inc.
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: | Leveraged buffered index-linked notes
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Underlying index: | Russell 2000 index
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Amount: | $1,079,000
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Maturity: | March 1, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains, par plus 150% of index return subject to a maximum return of par plus 40.333%; par if index declines but by no more than 15% buffer; otherwise par minus 100% of index decline beyond buffer
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Initial level: | 1,890.485
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Upside leverage: | 150%
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Cap: | 40.333%
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Buffer: | 15%
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Downside leverage: | 100%
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Pricing date: | Feb. 24, 2023
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Settlement date: | March 1, 2023
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0%
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Cusip: | 40057PQ39
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