Published on 2/7/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $14.29 million jump securities with autocallable feature on indexes
By William Gullotti
Buffalo, N.Y., Feb. 7 – GS Finance Corp. priced $14.29 million of 0% jump securities with autocallable feature due Jan. 25, 2029 linked to the least performing of the Nikkei 225 index, the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 14.5% per year if each index closes at or above its initial level on any quarterly determination date after one year.
If the final level of each index is greater than or equal to its initial level, the payout at maturity will be par plus 72.5%.
If the final level of any index is less than its initial level but the final level of each index is greater than or equal to its 80% downside threshold level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent with Morgan Stanley Wealth Management as a dealer.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Jump securities with autocallable feature
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| Underlying indexes: | Nikkei 225 index, S&P 500 index, Euro Stoxx 50 index
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| Amount: | $14,289,000
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| Maturity: | Jan. 25, 2029
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of each index is greater than or equal to initial level, par plus 72.5%; if final level of any index is less than initial level but final level of each index is greater than or equal to downside threshold level, par; otherwise, 1% loss for every 1% that least-performing index declines from its initial level
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| Call: | Automatically at par plus 14.5% per year if each index closes at or above initial level on any quarterly determination date after one year
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| Initial levels: | 4,850.43 for S&P, 4,480.32 for Stoxx, 36,546.95 for Nikkei
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| Downside thresholds: | 3,880.344 for S&P, 3,584.256 for Stoxx, 29,237.56 for Nikkei; 80% of initial levels
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| Pricing date: | Jan. 22
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| Settlement date: | Jan. 25
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| Agent: | Goldman Sachs & Co. LLC with Morgan Stanley Wealth Management as a dealer
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| Fees: | 3.25%
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| Cusip: | 40057XXM2
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