Chicago, Dec. 1 – GS Finance Corp. priced $6.04 million of contingent income autocallable securities due Nov. 30, 2026 linked to the common stock of Palo Alto Networks, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a quarterly coupon of 10% if the stock closes above the 55% downside threshold level on the related determination date.
The securities will be called automatically at par on any quarterly coupon determination date starting Feb. 26, 2024 if the price of the underlying stock is greater than or equal to its initial price.
At maturity the payout will be par unless the stock closes below its 55% downside threshold level in which case investors will be fully exposed to the decline of the stock.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent. Morgan Stanley Wealth Management is named as a dealer.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Palo Alto Networks, Inc.
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| Amount: | $6,038,000
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| Maturity: | Nov. 30, 2026
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| Coupon: | 10% annual rate, payable quarterly if stock closes above downside threshold level on related determination date
|
| Price: | Par
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| Payout at maturity: | Par unless the stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the stock
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| Call: | Automatically at par on any quarterly determination date starting Feb. 26, 2024 if the price of the underlying stock is greater than or equal to its initial price
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| Initial level: | $266.08
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| Downside threshold: | $146.344, 55% of initial level
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| Pricing date: | Nov. 24
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| Settlement date: | Nov. 29
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| Agent: | Goldman Sachs & Co. LLC
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 2.25%
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| Cusip: | 40057XAP0
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