Published on 12/14/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $50,000 autocallable index-linked notes on S&P 500, Russell
By Kiku Steinfeld
Chicago, Dec. 14 – GS Finance Corp. priced $50,000 of 0% autocallable index-linked notes due April 24, 2026 tied to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be called at par plus a 12% call premium if the lesser performing index closes at or above its initial level on April 22, 2024.
If the notes are not called, the payout at maturity will be par plus 1.25 times any gain of the lesser performing index. If the lesser performing index falls but finishes at greater than or equal to 80% of its initial level, investors will receive par. Otherwise, investors will be exposed to the decline of the lesser performing index beyond 20%.
Otherwise, investors receive par.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable index-linked notes
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| Underlying indexes: | S&P 500 index and Russell 2000 index
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| Amount: | $50,000
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| Maturity: | April 24, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If lesser performer gains, par plus 1.25 times index return; if the lesser performing index falls but finishes at or above its buffer level, par; otherwise, investors will be exposed to the decline of the lesser performing index beyond 20%
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| Call: | At par plus 12% call premium if lesser performing index closes at or above initial level on April 22, 2024
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| Initial levels: | 4,133.52 for S&P, 1,791.506 for Russell
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| Buffer levels: | 80% 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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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 2%
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| Cusip: | 40057RDH8
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