Published on 2/23/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $5.44 million autocallable contingent coupon notes on S&P, Russell, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Feb. 23 – GS Finance Corp. priced $5.44 million of autocallable contingent coupon index-linked notes due Feb. 18, 2028 linked to the Nasdaq-100 index, 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 monthly coupon at an annual rate of 10% if each index closes at or above its coupon barrier, 70% 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 monthly observation date starting after six months.
The payout at maturity will be par plus the coupon unless either index finishes below the 70% trigger buffer level, in which case investors will be fully exposed to the losses of the worst performer.
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 contingent coupon index-linked notes
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| Underlying indexes: | Nasdaq-100 index, S&P 500 index, Russell 2000 index
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| Amount: | $5,435,000
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| Maturity: | Feb. 18, 2028
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| Coupon: | 10% annual rate, payable monthly 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 trigger buffer level; otherwise, full exposure to losses of worst performer
|
| Call: | At par plus coupon if each index closes at or above initial level on any monthly observation date after six months
|
| Initial levels: | 17,845.72 for Nasdaq, 2,061.478 for Russell, 5,029.73 for S&P
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| Coupon barrier levels: | 70% of initial levels
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| Trigger buffer levels: | 70% of initial levels
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| Pricing date: | Feb. 15
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| Settlement date: | Feb. 21
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| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 0.75%
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| Cusip: | 40057YBC6
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