Published on 3/6/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $633,000 autocallable index-linked notes on Russell, S&P
By Kiku Steinfeld
Chicago, March 6 – GS Finance Corp. priced $633,000 of 0% autocallable index-linked notes due Nov. 30, 2027 tied to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its initial level on any annual call observation date, the notes will be called at par plus an annual 13% premium.
At maturity, if each index finishes at or above its initial level, the payout will be par plus the maturity date premium of 65%.
If the worst performer declines from its initial level, but finishes above 70% of its initial level, the payout will be par.
If either index falls by more than 30%, investors will lose 1% for each 1% decline of the worst performer 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: | Russell 2000 index, S&P 500
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| Amount: | $633,000
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| Maturity: | Nov. 30, 2027
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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 maturity date premium of 65%; if worst performer declines but finishes above 70% of initial level, par; if either index falls by more than 30%, 1% loss for each 1% decline of worse performer from its initial level
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| Call: | If each index closes at or above initial level on any annual call date, par plus 13% annual premium
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| Initial index levels: | 2,210.805 for Russell and 4,003.58 for S&P
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| Trigger buffer levels: | 70% of initial levels
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| Pricing date: | Nov. 22, 2022
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| Settlement date: | Nov. 28, 2022
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 4.17%
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| Cusip: | 40057NUK1
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