Published on 6/7/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.29 million autocallable index-linked notes on three indexes
By William Gullotti
Buffalo, N.Y., June 7 – GS Finance Corp. priced $1.29 million of 0% autocallable index-linked notes due May 3, 2028 tied to the Dow Jones industrial average, the S&P 500 index 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 any quarterly observation date after one year, the notes will be called at par plus an 8.4% annualized call premium.
If the notes are not called and each index finishes at or above 80% of its initial level, the payout at maturity will be par plus 42%.
If any index falls by more than 20%, 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: | Dow Jones industrial average, S&P 500 index, Russell 2000 index
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| Amount: | $1,289,000
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| Maturity: | May 3, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above trigger buffer, par plus 42%; otherwise, full exposure to decline of worst performer from initial level
|
| Call: | If each index closes at or above initial level on any quarterly observation date after one year, notes will be called at par plus an 8.4% annualized call premium
|
| Initial index levels: | 34,098.16 for Dow, 4,169.48 for S&P, 1,768.987 for Russell
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| Trigger buffer levels: | 80% of initial levels
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| Pricing date: | April 28
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| Settlement date: | May 5
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | None
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| Cusip: | 40057RHE1
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