Published on 10/14/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.22 million autocallable index-linked notes on Nasdaq, Dow
By Wendy Van Sickle
Columbus, Ohio, Oct. 14 – GS Finance Corp. priced $1.22 million of 0% autocallable index-linked notes due Oct. 7, 2024 tied to the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its initial level on Oct. 2, 2023, the notes will be called at par plus a 16% call premium.
If the notes are not called and each index finishes at or above its initial level, the payout will be par plus 1.25 times the return of the laggard index.
If the worst performer declines but finishes at or above 85% of its initial level, the payout will be par. Otherwise, investors will lose 1% for every 1% decline of the worst performer beyond 15%.
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: | Autocallable index-linked notes
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index
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| Amount: | $1,222,000
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| Maturity: | Oct. 7, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the notes are not called and each index finishes at or above its initial level, par plus 1.25 times the return of the laggard index; if worst performer finishes above 85% of initial level, par; otherwise, 1% loss for every 1% decline of the worst performer beyond 15%
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| Call: | If each index closes at or above its initial level on Oct. 2, 2023, notes will be called at par plus a 16% call premium
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| Initial index levels: | 28,725.51 for Dow, 10,971.22 for Nasdaq
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| Buffer levels: | 85% of initial levels
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| Pricing date: | Sept. 30
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| Settlement date: | Oct. 5
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.63%
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| Cusip: | 40057MYM5
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