Published on 2/8/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.61 million 11.75% fixed coupon equity-linked notes on three stocks
By William Gullotti
Buffalo, N.Y., Feb. 8 – GS Finance Corp. priced $2.61 million of 11.75% fixed coupon equity-linked notes due Jan. 25, 2027 linked to the stock performance of NextEra Energy, Inc., NIKE, Inc. and United Parcel Service, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Interest is payable quarterly.
The payout at maturity will be par if each stock finishes at or above its 70% trigger level.
Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
Goldman Sachs & Co. is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Fixed coupon equity-linked notes
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| Underlying stocks: | NextEra Energy, Inc., NIKE, Inc., United Parcel Service, Inc.
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| Amount: | $2,606,000
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| Maturity: | Jan. 25, 2027
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| Coupon: | 11.75% per year, payable quarterly
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above trigger level, par; otherwise, lose 1% for every 1% decline of the worst performer from initial level
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| Initial levels: | $57.26 for NextEra, $101.78 for NIKE, $156.89 for UPS
|
| Trigger level: | 70% of initial levels
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| Strike date: | Jan. 19
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| Pricing date: | Jan. 22
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| Settlement date: | Jan. 25
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| Underwriter: | Goldman Sachs & Co.
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| Fees: | 1.25%
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| Cusip: | 40057XYX7
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