Published on 12/14/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $633,000 callable contingent coupon equity notes on three stocks
By Kiku Steinfeld
Chicago, Dec. 14 – GS Finance Corp. priced $633,000 of callable contingent coupon equity-linked notes due April 26, 2028 tied to Alphabet Inc., Amazon.com, Inc. and Nike, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent monthly coupon at an annual rate of 12.5% if each stock closes at or above the coupon trigger level, 85% of the initial level, on the valuation date for that period.
The notes may be called at par plus any coupon due on any monthly call observation date after one year.
If the notes have not been called and each stock finishes at or above its 85% trigger buffer level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
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: | Callable contingent coupon equity-linked notes
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| Underlying stocks: | Alphabet Inc., Amazon.com, Inc. and Nike, Inc.
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| Amount: | $633,000
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| Maturity: | April 26, 2028
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| Coupon: | 12.5% annualized rate, payable monthly if each stock closes at or above coupon trigger level, on valuation date for that period
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above trigger buffer, par; otherwise, full exposure to decline of worst performer from initial level
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| Call option: | At par plus any coupon due on any monthly call observation date after one year
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| Initial levels: | $106.96 for Amazon, $105.91 for Alphabet, $125.53 for Nike
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| Coupon trigger levels: | 85% of initial levels
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| Trigger buffer levels: | 85% of initial levels
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| Pricing date: | April 21, 2023
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| Settlement date: | April 26, 2023
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.56%
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| Cusip: | 40057RHJ0
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