Published on 11/17/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $26.88 million autocallables linked to Goldman Sachs Momentum Builder
By Angela McDaniels
Tacoma, Wash., Nov. 17 – GS Finance Corp. priced $26.88 million of 0% autocallable index-linked notes due Oct. 31, 2030 linked to the Goldman Sachs Momentum Builder Focus ER index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 15.2% per year if the index closes at or above its call level on any annual call observation date. The call level is 100.5% of the initial level on the first call observation date, 101% of the initial index level on the second call observation date and then increases by 0.5% each year.
If the notes are not called and the index return is positive, the payout at maturity will be par plus the index return. If the index return is zero or negative, the payout will be par.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable index-linked notes
|
| Underlying index: | Goldman Sachs Momentum Builder Focus ER index
|
| Amount: | $26,875,000
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| Maturity: | Oct. 31, 2030
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index return is positive, par plus index return; if index return is zero or negative, par
|
| Call: | Automatically at par plus 15.2% per year if index closes at or above call level on any annual call observation date
|
| Initial level: | 101.21
|
| Call level: | 100.5% of initial index level on Oct. 28, 2024, 101% of initial index level on Oct. 27, 2025, 101.5% of initial index level on Oct. 26, 2026, 102% of initial index level on Oct. 26, 2027, 102.5% of initial index level on Oct. 26, 2028 and 103% of initial index level on Oct. 26, 2029
|
| Pricing date: | Oct. 26
|
| Settlement date: | Oct. 31
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 4.27%
|
| Cusip: | 40057WKJ5
|
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