Published on 1/9/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.75 million autocallable underlier-linked notes on index, ETF
By Wendy Van Sickle
Columbus, Ohio, Jan. 9 – GS Finance Corp. priced $1.75 million of 0% autocallable underlier-linked notes due Jan. 8, 2029 linked to the Russell 2000 index and the iShares MSCI EAFE ETF, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically called at par plus a 9% annualized call premium if the lesser-performing underlier closes at or above its initial level on any of the quarterly call observation dates starting Dec. 30, 2024.
If the lesser-performing underlier finishes at or above its initial level, the payout at maturity will be par plus 45%.
If the worst performer falls by up to 40%, the payout will be par. Otherwise, investors will be exposed to the worst performer’s decline from its initial level.
Goldman Sachs & Co. LLC is the underwriter.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Autocallable underlier-linked notes
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Underlying assets: | Russell 2000 index, iShares MSCI EAFE ETF
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Amount: | $1,745,000
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Maturity: | Jan. 8, 2029
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the lesser-performing asset finishes at or above initial level, par plus 45%; if the worst performer declines by up to 40%, par; otherwise, investors will be fully exposed to the worst performer’s decline from its initial level
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Call: | Automatically at par plus a 9% annualized call premium if lesser-performing underlier closes at or above initial level on any of the quarterly call observation dates starting Dec. 30, 2024
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Initial levels: | 2,027.074 for index, $75.35 for fund
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Trigger buffer levels: | 60% of initial levels
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Pricing date: | Dec. 29
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Settlement date: | Jan. 4
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 1.125%
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Cusip: | 40057XLC7
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