Published on 10/18/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1 million autocallable index-linked notes on S&P, Russell, Dow
By Kiku Steinfeld
Chicago, Oct. 18 – GS Finance Corp. priced $1 million of 0% autocallable index-linked notes due Feb. 23, 2027 tied to the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be called at par plus 11% on Feb. 28, 2023 if the least performing index closes at or above its initial level.
If each index finishes above its initial level, the payout at maturity will be par plus double the least performing index return.
If any index falls by up to the 30% barrier, the payout will be par.
If any index falls by more than 30%, investors will be fully exposed to the decline of the least performing index.
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: | S&P 500 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $1 million
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| Maturity: | Feb. 23, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes above its initial level, par plus double the least performing index return; if any index falls by up to 30%, par; if any index falls by more than 30%, full exposure to the decline of the least performing index
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| Call: | Automatically at par plus 11% on Feb. 28, 2023 if the least performing index closes at or above its initial level
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| Initial index levels: | 4,348.87 for S&P, 2,009.333 for Russell and 34,079.18 for Dow
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| Barrier levels: | 70% of initial levels
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| Pricing date: | Feb. 18, 2022
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| Settlement date: | Feb. 24, 2022
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 40057L6K2
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