E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 10/10/2023 in the Prospect News Structured Products Daily.

New Issue: GS Finance prices $2 million autocallable equity-linked notes on three tech stocks

By William Gullotti

Buffalo, N.Y., Oct. 10 – GS Finance Corp. priced $2 million of autocallable equity-linked securities due Sept. 24, 2026 tied to the stocks of Microsoft Corp., Amazon.com, Inc. and Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Goldman Sachs Group, Inc.

The notes will be automatically redeemed at par plus 20% if the worst-performing stock closes at or above its initial price on Oct. 4, 2024.

If each stock finishes flat or positive, the payout at maturity will be par plus 4.15 times the return of the worst performer’s return.

If the worst performer declines but finishes at or above the 70% downside threshold, the payout at maturity will be par. Otherwise, investors will be exposed to the loss of the least-performing stock.

Goldman Sachs & Co. LLC is the agent.

Issuer:GS Finance Corp.
Guarantor:Goldman Sachs Group, Inc.
Issue:Autocallable equity-linked securities
Underlying stocks:Microsoft Corp., Amazon.com, Inc., Alphabet Inc.
Amount:$2,003,000
Maturity:Sept. 24, 2026
Coupon:0%
Price:Par
Payout at maturity:If each stock finishes at or above initial price, par plus 4.15 times the return of the worst performer; par if worst performer declines but finishes at or above downside threshold; otherwise, full exposure to losses of least-performing stock
Call:Automatically at par plus 20% if the worst-performing stock closes at or above its initial price on Oct. 4, 2024
Initial prices:$131.85 for Alphabet, $127.12 for Amazon, $315.75 for Microsoft
Downside thresholds:70% of initial levels
Pricing date:Sept. 29
Settlement date:Oct. 4
Agent:Goldman Sachs & Co. LLC
Fees:0.75%
Cusip:40057WES2

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.