Published on 12/5/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $1.14 million autocallable basket-linked notes on stock basket
By William Gullotti
Buffalo, N.Y., Dec. 5 – GS Finance Corp. priced $1.14 million of 0% autocallable basket-linked notes due Dec. 6, 2027 linked to an equally weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the stocks of Amazon.com, Inc., Microsoft Corp., Boeing Co., Target Corp. and Tesla, Inc., each with a 20% weight.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be called automatically at par plus a 10% annualized call premium if the basket closes at or above its initial level on any annual valuation date.
If the basket return is zero or positive, the payout at maturity will be par plus 40%.
Investors will receive par if the basket falls by up to 40% and will be fully exposed to the decline of the basket if it falls by more than 40%.
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 basket-linked notes
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| Underlying stocks: | Amazon.com, Inc., Microsoft Corp., Boeing Co., Target Corp., Tesla, Inc.; equal weights
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| Amount: | $1.14 million
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| Maturity: | Dec. 6, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the basket finishes flat or positive, par plus 40%; if the basket falls by no more than 40%, par; otherwise, lose 1% for each 1% decline of the basket from initial level
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| Call: | Automatically at par plus a 10% annualized call premium if the basket closes at or above its initial level on any annual valuation date
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| Initial levels: | $146.32 for Amazon, $378.85 for Microsoft, $224.43 for Boeing, $131.32 for Target, $244.14 for Tesla
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| Threshold level: | 60% of initial level
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| Pricing date: | Nov. 29
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| Settlement date: | Dec. 4
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 3.75%
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| Cusip: | 40057XAY1
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