Published on 3/5/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $109.74 million 8.89% autocallable fixed coupon notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, March 5 – GS Finance Corp. priced $109.74 million of 8.89% autocallable fixed coupon index-linked notes due Feb. 28, 2025 linked to the S&P 500 index, Russell 2000 index and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Interest is payable monthly.
The notes will be automatically called at par plus the coupon if the least-performing index closes at or above its initial level on any monthly call observation date after six months.
If the notes are not subject to an automatic call, the payout at maturity will be par unless any index finishes below the 50% trigger buffer, in which case investors will lose 1% for each 1% decline of the least-performing index from its initial level.
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 fixed coupon index-linked notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
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| Amount: | $109,743,000
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| Maturity: | Feb. 28, 2025
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| Coupon: | 8.89%, payable monthly
|
| Price: | Par
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| Payout at maturity: | Par unless any index finishes below the trigger buffer, in which case investors will lose 1% for each 1% decline of the least-performing index from its initial level
|
| Call: | At par plus the coupon if all indexes close at or above their initial levels on any monthly call observation date after six months
|
| Initial levels: | 2,016.688 for Russell, 17,937.61 for Nasdaq, 5,088.8 for S&P
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| Trigger buffers: | 70% of initial levels
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| Pricing date: | Feb. 23
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| Settlement date: | Feb. 28
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| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 0.44%
|
| Cusip: | 40057YCJ0
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