Published on 8/17/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $731,000 autocallable index-linked notes on Dow, Russell, Nasdaq
Chicago, Aug. 17 – GS Finance Corp. priced $731,000 of 0% autocallable index-linked notes due July 29, 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 95% of its initial level on July 24, 2023, the notes will be called at par plus a 16.5% call premium amount.
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 worst performer.
If the worst performer declines but finishes at or above 70% of its initial level, the payout will be par.
If any index falls by more than 30%, investors will be exposed to the decline of the worst performing index from its 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: | Nasdaq-100 index, Dow Jones industrial average and Russell 2000 index
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| Amount: | $731,000
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| Maturity: | July 29, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 1.25 times the return of the worst performer if all indexes finish positive; par if worst performer declines but finishes above 70% of initial level; otherwise, full exposure to losses of worst performer
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| Call: | Automatically at par plus 16.5% if all indexes finish above 95% of initial levels on July 24, 2023
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| Initial index levels: | 31,899.29 for Dow, 1,806.881 for Russell, 12,396.47 for Nasdaq
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| Trigger buffer levels: | 70% of initial levels
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| Pricing date: | July 22, 2022
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| Settlement date: | July 27, 2022
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 2.75%
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| Cusip: | 40057MPN3
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