Published on 11/28/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.12 million leveraged market-linked buffered autocalls on stocks
By William Gullotti
Buffalo, N.Y., Nov. 28 – GS Finance Corp. priced $1.12 million of 0% market-linked securities – autocallable with leveraged upside participation and fixed percentage buffered downside due Nov. 27, 2026 linked to the stock performance of Uber Technologies, Inc., Nvidia Corp. and Meta Platforms, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a 30% premium if each stock closes at or above its initial level on Nov. 29, 2024.
The payout at maturity will be par plus 357% of any gain in the least performing stock.
Investors will receive par if the worst performer falls by no more than 30% and will lose 1% for every 1% decline of the worst performer beyond 30%.
The securities are guaranteed by Goldman Sachs Group, Inc.
Wells Fargo Securities LLC and Goldman Sachs & Co. LLC are the agents.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Market-linked securities – autocallable with leveraged upside participation and fixed percentage buffered downside
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| Underlying stocks: | Uber Technologies, Inc., Nvidia Corp., Meta Platforms, Inc.
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| Amount: | $1,115,000
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| Maturity: | Nov. 27, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 357% of any gain of least performing stock; if worst performer falls by up to 30%, par; otherwise, 1% loss for every 1% decline of worst performer beyond 30%
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| Call: | Automatically at par plus a 30% premium if each stock closes at or above its initial level on Nov. 29, 2024
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| Initial levels: | $487.16 for Nvidia, $55.37 for Uber, $341.49 for Meta
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| Buffer levels: | 70% of initial levels
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| Pricing date: | Nov. 22
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| Settlement date: | Nov. 28
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| Agent: | Wells Fargo Securities LLC and Goldman Sachs & Co. LLC
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| Fees: | 2.575%
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| Cusip: | 40057X6P5
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