Published on 7/6/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $561,000 leveraged buffered notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., July 6 – GS Finance Corp. priced $561,000 of 0% leveraged buffered index-linked notes due May 1, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the initial index level, the payout at maturity will be par plus 200% of the index return, subject to a maximum return of 28.75%.
If the final index level is less than or equal to the initial index level but greater than or equal to the 85% buffer level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the index declines beyond 15%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
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: | S&P 500 index
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Amount: | $561,000
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Maturity: | May 1, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final index level is greater than initial index level, par plus 200% of index return, subject to maximum return of 28.75%; if final index level is less than or equal to initial index level but greater than or equal to the 85% buffer level, par; otherwise, 1% loss for every 1% that index declines beyond 15%
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Initial level: | 4,072.43
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Buffer level: | 85% of initial level
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Pricing date: | July 28, 2022
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Settlement date: | Aug. 2, 2022
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 2.85%
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Cusip: | 40057MKJ7
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