Published on 12/28/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.34 million autocallable index-linked notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, Dec. 28 – GS Finance Corp. priced $1.34 million of 0% autocallable index-linked notes due Dec. 29, 2026 tied to the Nasdaq-100 Technology Sector 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 either annual call observation date, the notes will be called at par plus a 15.3% call premium.
If the worst performer finishes at or above its initial level, the payout will be par plus 1.5 times the return of worst performing index. If the worst performer falls but finishes at or above 70% of its initial level, the payout will be par.
Otherwise, 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 Technology Sector index, Dow Jones industrial average and Russell 2000 index
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Amount: | $1,336,000
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Maturity: | Dec. 29, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performer finishes at or above initial level, par plus 1.5 times laggard index return; if worst performing falls by up to 30%, par; otherwise, investors will be exposed to the decline of the worst performing index from its initial level
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Call: | If each index closes at or above initial level on Dec. 20, 2024, the notes will be called at par plus a 15.3% call premium
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Initial index levels: | 9,344.424 for Nasdaq, 37,082.0 for Dow, 1,982.836 for Russell
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Trigger buffer levels: | 70% of initial levels
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Pricing date: | Dec. 20
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Settlement date: | Dec. 26
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 3.25%
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Cusip: | 40057XJT3
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