Published on 9/25/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $910,000 autocallable index-linked notes on S&P, Dow
Chicago, Sept. 25 – GS Finance Corp. priced $910,000 of 0% autocallable index-linked notes due Sept. 27, 2027 tied to the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its initial level on Sept. 20, 2023, the notes will be called at par plus an 8% call premium.
If the notes are not called and each index finishes at or above its initial level, the payout will be par plus 1.95 times the return of the laggard index.
If the worst performer declines but finishes at or above 85% of its initial level, the payout will be par.
If any index falls by more than 15%, investors will be exposed to the decline of the worst performing index beyond the 15% buffer.
The notes are guaranteed by Goldman Sachs Group, Inc.
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, Dow Jones industrial average
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Amount: | $910,000
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Maturity: | Sept. 27, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the notes are not called and each index finishes at or above its initial level, par plus 1.95 times the return of the laggard index; if worst performer declines but finishes at or above 85% of initial level, par; otherwise, investors will be exposed to the decline of the worst performing index beyond the 15% buffer
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Call: | If each index closes at or above initial level on Sept. 20, 2023, notes will be called at par plus an 8% call premium
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Initial levels: | 3,855.93 for S&P, 30,706.23 for Dow
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Buffer levels: | 85% of initial levels
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Pricing date: | Sept. 20, 2022
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Settlement date: | Sept. 23, 2022
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 3.75%
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Cusip: | 40057NAT4
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