Published on 8/4/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $770,000 autocallables linked to Nasdaq, S&P
By Angela McDaniels
Tacoma, Wash., Aug. 4 – GS Finance Corp. priced $770,000 of 0% autocallable index-linked notes due Sept. 15, 2025 linked to the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 13.1% if each index closes at or above its initial level on Sept 7, 2023.
If the final level of each index is greater than its initial level, the payout at maturity will be par plus 1.5 times the return of the lesser-performing index. If the lesser-performing index declines by up to 15%, the payout will be par. Otherwise, investors will lose 1% for every 1% that the lesser-performing index declines beyond 15%.
The notes are guaranteed by Goldman Sachs Group, Inc.
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 index-linked notes
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| Underlying indexes: | Nasdaq-100 index and the S&P 500 index
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| Amount: | $770,000
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| Maturity: | Sept. 15, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of each index is greater than initial level, par plus 1.5 times return of lesser-performing index; if lesser-performing index declines by up to 15%, par; otherwise, 1% loss for every 1% that lesser-performing index declines beyond 15%
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| Call: | Automatically at par plus 13.1% if each index closes at or above initial level on Sept. 7, 2023
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| Initial levels: | 12,259.39 for Nasdaq and 3,979.87 for S&P
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| Buffer levels: | 85% of initial levels
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| Strike date: | Sept. 7, 2022
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| Pricing date: | Sept. 8, 2022
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| Settlement date: | Sept. 13, 2022
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 3%
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| Cusip: | 40057N6X0
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