Published on 10/25/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $760,000 autocallable ETF-linked notes on three ETFs
By Kiku Steinfeld
Chicago, Oct. 25 – GS Finance Corp. priced $760,000 of 0% autocallable ETF-linked notes due April 6, 2026 tied to the Technology Select Sector SPDR Fund, the iShares Russell 2000 ETF and the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically called at par plus a 21% call premium if each ETF closes at or above its initial value on April 1, 2024.
If the return of each ETF is positive, the payout at maturity will par plus 1.5 times the return of the lesser performing ETF.
If the worst performer falls by up to 30%, the payout will be par plus the absolute value of that ETF’s return.
Otherwise, investors will lose 1% for every 1% decline of the worst performer.
Goldman, Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable ETF-linked notes
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| Underlying ETFs: | Technology Select Sector SPDR Fund, iShares Russell 2000 ETF and SPDR S&P 500 ETF Trust
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| Amount: | $760,000
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| Maturity: | April 6, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the return of each fund is flat or positive, par plus 1.5 times laggard ETF return; if worst performer falls by up to 30%, par plus the absolute value of the return of that ETF; otherwise, 1% loss for every 1% decline of worst performer
|
| Call: | Automatically at par plus 21% call premium if each ETF closes above its initial value on April 1, 2024
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| Initial values: | $147.17 for Technology, $175.42 for iShares, $401.35 for SPDR S&P
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| Barrier levels: | 70% of initial levels
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| Pricing date: | March 29, 2023
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| Settlement date: | April 3, 2023
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| Agent: | Goldman, Sachs & Co. LLC
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| Fees: | 3.226%
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| Cusip: | 40057R5F1
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