Published on 1/4/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $3.82 million market-linked autocalls with buffered downside on stocks
By William Gullotti
Buffalo, N.Y., Jan. 4 – GS Finance Corp. priced $3.82 million of 0% market-linked securities – autocallable with fixed percentage buffered downside due Dec. 21, 2026 linked to the stock performance of Amazon.com, Inc., Apple Inc. and Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annualized call premium of 17.15% if each stock closes at or above its initial level on any annual call observation date.
If the securities are not called, payout at maturity will be par unless any stock falls by more than 10%, in which case investors will be exposed to the decline of the worst performer beyond 10%.
The notes 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 fixed percentage buffered downside
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| Underlying stocks: | Amazon.com, Inc., Apple Inc., Alphabet Inc.
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| Amount: | $3,824,000
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| Maturity: | Dec. 21, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par unless any stock falls by more than 10%, in which case lose 1% for every 1% decline of worst performer beyond 10%
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| Call: | Automatically at par plus 17.15% annualized call premium if each stock closes at or above initial level on any annual call observation date
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| Initial levels: | $149.97 for Amazon, $197.57 for Apple, $132.60 for Alphabet
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| Buffer levels: | 90% of initial levels
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| Pricing date: | Dec. 15
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| Settlement date: | Dec. 20
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| Agents: | Wells Fargo Securities, LLC and Goldman Sachs & Co. LLC
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| Fees: | 2.575%
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| Cusip: | 40057XBY0
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