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.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable equity-linked securities
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| Underlying stocks: | Microsoft Corp., Amazon.com, Inc., Alphabet Inc.
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| Amount: | $2,003,000
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| Maturity: | Sept. 24, 2026
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| Coupon: | 0%
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| Price: | Par
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| 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
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| Call: | Automatically at par plus 20% if the worst-performing stock closes at or above its initial price on Oct. 4, 2024
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| Initial prices: | $131.85 for Alphabet, $127.12 for Amazon, $315.75 for Microsoft
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| Downside thresholds: | 70% of initial levels
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| Pricing date: | Sept. 29
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| Settlement date: | Oct. 4
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 40057WES2
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