Published on 12/28/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $871,000 autocallable index-linked notes on Dow, Russell, Nasdaq
By William Gullotti
Buffalo, N.Y., Dec. 28 – GS Finance Corp. priced $871,000 of 0% autocallable index-linked notes due May 6, 2024 tied to the Nasdaq-100 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its initial level on April 28, 2023, the notes will be called at par plus a 19.5% call premium.
If the notes are not called and each index finishes at or above its initial level, the payout will be par plus 1.5 times the return of the laggard index.
If the worst performer declines but finishes at or above 70% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the laggard index from initial level.
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, Russell 2000 index, Nasdaq-100 index
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| Amount: | $871,000
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| Maturity: | May 6, 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 1.5 times the return of the laggard index; if worst performer finishes above 70% of initial level, par; otherwise, lose 1% for every 1% decline of the laggard index from initial level
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| Call: | If each index closes at or above initial level on April 28, 2023, notes will be called at par plus a 19.5% call premium
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| Initial index levels: | 33,916.39 for Dow, 1,917.944 for Russell, 13,456.06 for Nasdaq
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| Trigger buffer levels: | 70% of initial levels
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| Pricing date: | April 28
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| Settlement date: | May 3
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.86%
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| Cusip: | 40057LUC3
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