Published on 1/30/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $12.92 million autocallable basket-linked notes on stock basket
By Wendy Van Sickle
Columbus, Ohio, Jan. 30 – GS Finance Corp. priced $12.92 million of 0% autocallable basket-linked notes due Jan. 27, 2026 linked to an equally weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the stocks of Alphabet Inc., Amazon.com, Inc., Apple Inc., Meta Platforms, Inc., Microsoft Corp. and Nvidia Corp., each with a 16.667% weight.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be called automatically at par plus a 15% call premium if the basket closes at or above its initial level on Feb. 6, 2025.
If the basket return is zero or positive, the payout at maturity will be par plus 2.0144 times the basket return.
Investors will receive par if the basket falls by up to 20% and will be exposed to the decline of the basket beyond 20%.
Goldman Sachs & Co. LLC is the agent with JPMorgan as placement agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable basket-linked notes
|
| Underlying stocks: | Alphabet Inc., Amazon.com, Inc., Apple Inc., Meta Platforms, Inc., Microsoft Corp. and Nvidia Corp.; equal weights
|
| Amount: | $12,923,000
|
| Maturity: | Jan. 27, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the basket finishes flat or positive, par plus 2.0144 times basket return; if the basket falls by no more than 20%, par; otherwise, lose 1% for each 1% decline of the basket beyond 20%
|
| Call: | Automatically at par plus a 15% call premium if the basket closes at or above its initial level on Feb. 6, 2025
|
| Initial levels: | $151.87 for Alphabet Inc., $157.75 for Amazon, $194.17 for Apple, $393.18 for Meta Platforms, $404.87 for Microsoft and $616.17 for Nvidia
|
| Pricing date: | Jan. 25
|
| Settlement date: | Jan. 30
|
| Agent: | Goldman Sachs & Co. LLC with JPMorgan as placement agent
|
| Fees: | 1.5%
|
| Cusip: | 40057XZA6
|
|
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
