Published on 2/2/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $829,000 autocallable index-linked notes on S&P, Dow
Chicago, Feb. 2 – GS Finance Corp. priced $829,000 of 0% autocallable index-linked notes due May 17, 2028 tied to the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its initial level on May 10, 2024, the notes will be called at par plus a 9% call premium.
If the notes are not called and each index finishes at or above its initial level, the payout will be par plus 2.467 times the return of the laggard index.
If the worst performer declines but finishes at or above 85% of its initial level, the payout will be par.
If either index falls by more than 15%, investors will have a 1% loss for each 1% decline beyond the 15% buffer
The notes are guaranteed by Goldman Sachs Group, Inc.
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: | Autocallable index-linked notes
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| Underlying indexes: | S&P 500 index, Dow Jones industrial average
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| Amount: | $829,000
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| Maturity: | May 17, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the notes are not called and each index finishes at or above its initial level, par plus 2.467 times the return of the laggard index; if worst performer finishes at or above 85% of initial level, par; otherwise, 1% loss for each 1% decline beyond 15% buffer
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| Call: | If each index closes at or above initial level on May 10, 2024, notes will be called at par plus a 9% call premium
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| Initial index levels: | 33,531.33 for Dow, 4,137.64 for S&P
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| Buffer levels: | 85% of initial levels
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| Pricing date: | May 10, 2023
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| Settlement date: | May 15, 2023
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 40057RT65
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