Published on 10/17/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $8.46 million autocallable index-linked notes on Russell, S&P
By William Gullotti
Buffalo, N.Y., Oct. 17 – GS Finance Corp. priced $8.46 million of 0% autocallable index-linked notes due Oct. 13, 2028 tied to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above 80% of its initial level on any quarterly observation date starting Jan. 10, 2025, the notes will be called at par plus a 9% annualized call premium.
If the notes are not called and each index finishes at or above 80% of its initial level, the payout will be par plus 45%.
If any index falls by more than 20%, investors will be exposed to the decline of the worst performing index from its initial level.
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, Russell 2000 index
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| Amount: | $8.46 million
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| Maturity: | Oct. 13, 2028
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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 80% of initial level, par plus 45%; otherwise, investors will be exposed to the decline of the worst performing index from its initial level
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| Call: | If each index closes at or above 80% of initial level on any quarterly observation date starting Jan. 10, 2025, notes will be called at par plus a 9% annualized call premium
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| Initial index levels: | 4,358.24 for S&P, 1,775.946 for Russell
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| Trigger buffer levels: | 80% of initial levels
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| Pricing date: | Oct. 10
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| Settlement date: | Oct. 13
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | None
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| Cusip: | 40057WLY1
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