Published on 2/14/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $781,000 autocallable contingent coupon notes on S&P, Russell
Chicago, Feb. 14 – GS Finance Corp. priced $781,000 of autocallable contingent coupon index-linked notes due Jan. 8, 2029 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 6.4% if each index closes at or above its coupon barrier, 85% of its initial level, on the corresponding observation date.
The notes will be called at par plus the coupon if each index closes at or above its initial level on any quarterly observation date starting after one year.
The payout at maturity will be par plus the coupon unless either index finishes below the 85% buffer level, in which case investors will be exposed to the losses of the worst performer beyond the 15% buffer.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon index-linked notes
|
| Underlying indexes: | S&P 500 index, Russell 2000 index
|
| Amount: | $781,000
|
| Maturity: | Jan. 8, 2029
|
| Coupon: | 6.4% annual rate, payable quarterly if each index closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon if each index finishes at or above buffer level; otherwise, exposure to losses of worst performer beyond 15% buffer
|
| Call: | At par plus coupon if each index closes at or above initial level on any quarterly observation date starting after one year
|
| Initial levels: | 2,027.074 for Russell, 4,769.83 for S&P
|
| Coupon barrier levels: | 85% of initial levels
|
| Buffer levels: | 85% of initial levels
|
| Pricing date: | Dec. 29, 2023
|
| Settlement date: | Jan. 4, 2024
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 3.75%
|
| Cusip: | 40057XNH4
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
