Published on 8/30/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.12 million autocallable underlier-linked notes on indexes, ETF
By William Gullotti
Buffalo, N.Y., Aug. 30 – GS Finance Corp. priced $1.12 million of 0% autocallable underlier-linked notes due Aug. 31, 2026 linked to the Dow Jones industrial average, the S&P 500 index and the Consumer Staples Select Sector SPDR Fund, 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 an 11.8% call premium if the lesser-performing underlier closes at or above its initial level on Aug. 26, 2024.
If the lesser-performing underlier finishes at or above its initial level, the payout at maturity will be par plus 1.5 times the return of the lesser-performing underlier.
If the worst performer falls by up to 20%, the payout will be par plus the absolute value of that underlier’s return.
Otherwise, investors will lose 1% for every 1% decline of the worst performer beyond 20%.
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: | Dow Jones industrial average, S&P 500 index, Consumer Staples Select Sector SPDR Fund
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| Amount: | $1,115,000
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| Maturity: | Aug. 31, 2026
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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 1.5 times the return of that underlier; if the worst performer declines by up to 20%, par plus the absolute value of that underlier’s return; otherwise, lose 1% for every 1% decline of the worst performer beyond 20%
|
| Call: | Automatically at par plus an 11.8% call premium if lesser-performing underlier closes at or above initial level on Aug. 26, 2024
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| Initial levels: | $72.02 for ETF, 34,099.42 for Dow, 4,376.31 for S&P
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| Trigger buffer levels: | 80% of initial levels
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| Pricing date: | Aug. 24
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| Settlement date: | Aug. 29
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 1%
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| Cusip: | 40057TWZ3
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