Published on 10/1/2023 in the Prospect News Structured Products Daily.
New Issue: GS prices $827,000 autocallable contingent coupon equity notes on three stocks
By Kiku Steinfeld
Chicago, Oct. 2 – GS Finance Corp. priced $827,000 of autocallable contingent coupon equity-linked notes due March 22, 2030 linked to the stocks of Apple Inc., Amazon.com, Inc. and Tesla, Inc., 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 10.1% if each stock closes at or above its coupon barrier price, 75% of its initial price, on a related determination date.
The notes will be automatically called at par plus coupon if each stock closes at or above its initial share price on any quarterly call observation date after one year.
If the notes have not been called, the payout at maturity will be par unless any stock finishes below its 75% barrier price, in which case investors will lose 1% for every 1% that the worst performer declines from initial level.
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 contingent coupon equity-linked securities
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| Underlying stocks: | Apple Inc., Amazon.com, Inc., Tesla, Inc.
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| Amount: | $827,000
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| Maturity: | March 22, 2030
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| Coupon: | 10.1% annual rate, payable monthly if closing price of each stock is greater than or equal to coupon barrier on related observation date
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below its 75% barrier price, in which case investors will lose 1% for every 1% that the worst performer declines from initial level
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| Call: | At par plus coupon if closing share price of least performing stock is greater than or equal to its initial share price on any quarterly observation date after one year
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| Initial share prices: | $155 for Apple, $98.95 for Amazon, $80.13 for Tesla
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| Coupon barrier prices: | 75% of initial levels
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| Final barrier prices: | 75% of initial levels
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| Pricing date: | March 17, 2023
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| Settlement date: | March 22, 2023
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 4.125%
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| Cusip: | 40057R2D9
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