Published on 10/31/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $1.67 million autocallable buffered notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Oct. 31 – GS Finance Corp. priced $1.67 million of 0% autocallable buffered index-linked notes due Nov. 5, 2024 linked to 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 14.8% if the index’s closing level on Oct. 31, 2023 is greater than or equal to the initial index level.
If the final index level is greater than or equal to the initial index level, the payout at maturity will be par plus 1.5 times the index return. If the index declines by 15% or less, the payout will be par. Otherwise, investors will lose 1% for every 1% that the index declines beyond 15%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter. Citigroup Global Markets Inc. is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable buffered index-linked notes
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| Underlying index: | S&P 500 index
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| Amount: | $1,667,000
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| Maturity: | Nov. 5, 2024
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If final index level is greater than or equal to initial index level, par plus 1.5 times index return; if index declines by 15% or less, par; otherwise, 1% loss for every 1% that index declines beyond 15%
|
| Call: | Automatically at par plus 14.8% if index’s closing level on Oct. 31, 2023 is greater than or equal to initial index level
|
| Initial level: | 3,871.98
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| Buffer level: | 85% of initial level
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| Pricing date: | Oct. 31, 2022
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| Settlement date: | Nov. 3, 2022
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| Underwriter: | Goldman Sachs & Co. LLC
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| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1.75%
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| Cusip: | 40057NT49
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