Published on 2/27/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.05 million autocallable underlier-linked notes on indexes, ETF
By William Gullotti
Buffalo, N.Y., Feb. 27 – GS Finance Corp. priced $2.05 million of 0% autocallable underlier-linked notes due Jan. 28, 2027 linked to the Russell 2000 index, the Euro Stoxx 50 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically called at par plus an 18.5% call premium if the lesser-performing underlier closes at or above its initial level on Feb. 7, 2025.
If the lesser-performing underlier finishes at or above its initial level, the payout at maturity will be par plus 300% of the return of the lesser-performing underlier.
If the worst performer falls by up to 20%, the payout will be par. Otherwise, investors will lose 1% for every 1% decline of the worst performer beyond 20%.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable underlier-linked notes
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| Underlying assets: | Russell 2000 index, Euro Stoxx 50 index, iShares MSCI Emerging Markets ETF
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| Amount: | $2.05 million
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| Maturity: | Jan. 28, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the lesser-performing asset finishes at or above initial level, par plus 300% of the return of that underlier; if the worst performer declines by up to 20%, par; otherwise, lose 1% for every 1% decline of the worst performer beyond 20%
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| Call: | Automatically at par plus an 18.5% call premium if lesser-performing underlier closes at or above initial level on Feb. 7, 2025
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| Initial levels: | $38.65 for ETF, 1,962.731 for Russell, 4,654.55 for Stoxx
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| Trigger buffer levels: | 80% of initial levels
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| Pricing date: | Feb. 2
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| Settlement date: | Feb. 7
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 40057Y2W2
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