Published on 2/14/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $750,000 autocallable basket-linked notes on stock basket
By William Gullotti
Buffalo, N.Y., Feb. 14 – GS Finance Corp. priced $750,000 of 0% autocallable basket-linked notes due Jan. 29, 2026 linked to an equally weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the stocks of Alphabet Inc., Amazon.com, Inc., Meta Platforms, Inc., Microsoft Corp., Nvidia Corp. and Apple Inc., each with approximately a 16.667% weight.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be called automatically at par plus a 10% call premium if the basket closes at or above its initial level on Feb. 7, 2025.
If the basket return is zero or positive, the payout at maturity will be par plus 2.83 times the return.
Investors will receive par if the basket falls by up to 20% and be fully exposed to the decline of the basket if it falls by more than 20%.
Goldman Sachs & Co. LLC is the agent, with JPMorgan acting as placement agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable basket-linked notes
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| Underlying stocks: | Alphabet Inc., Amazon.com, Inc., Meta Platforms, Inc., Microsoft Corp., Nvidia Corp., Apple Inc.; equal weights
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| Amount: | $750,000
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| Maturity: | Jan. 29, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the basket finishes flat or positive, par plus 2.83 times the basket return; if the basket falls by no more than 20%, par; otherwise, lose 1% for each 1% decline of the basket from initial level
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| Call: | Automatically at par plus a 10% call premium if the basket closes at or above its initial level on Feb. 7, 2025
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| Initial levels: | $152.185 for Alphabet, $159.12 for Amazon, $394.14 for Meta, $403.93 for Microsoft, $610.31 for Nvidia, $192.42 for Apple
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| Threshold level: | 80% of initial level
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| Pricing date: | Jan. 26
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| Settlement date: | Jan. 31
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| Agent: | Goldman Sachs & Co. LLC, with JPMorgan acting as placement agent
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| Fees: | 1.5%
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| Cusip: | 40057Y2S1
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