Published on 3/1/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $1.06 million autocallables linked to Amazon, Meta, Tesla
By Angela McDaniels
Tacoma, Wash., March 1 – GS Finance Corp. priced $1.06 million of 0% market-linked securities – autocallable with fixed percentage buffered downside due June 30, 2028 linked to the common stock of Amazon.com, Inc., the class A common stock of Meta Platforms, Inc. and the common stock of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Starting July 1, 2024, the notes will be automatically called at par plus 28.8% per year if the lowest performing stock closes at or above its initial share price on any quarterly call date.
If the notes are not called, the payout at maturity will be par unless the least performing stock’s final share price is less than its threshold price, 80% of its initial share price, in which case investors will lose 1% for every 1% that the least performing stock declines beyond 20%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC and Wells Fargo Securities LLC are the agents.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Market-linked securities – autocallable with fixed percentage buffered downside
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| Underlying stocks: | Amazon.com, Inc., Meta Platforms, Inc. and Tesla, Inc.
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| Amount: | $1,059,000
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| Maturity: | June 30, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par unless least performing stock’s final share price is less than threshold price, in which case 1% loss for every 1% that least performing stock declines beyond 20%
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| Call: | Starting July 1, 2024, automatically at par plus 28.8% per year if lowest performing stock closes at or above initial share price on any quarterly call date
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| Initial share prices: | $129.18 for Amazon, $287.05 for Meta and $250.21 for Tesla
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| Buffer levels: | 80% of initial level
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| Pricing date: | June 27, 2023
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| Settlement date: | June 30, 2023
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| Agents: | Goldman Sachs & Co. LLC and Wells Fargo Securities LLC
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| Fees: | 2.825%
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| Cusip: | 40057TDG6
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