Published on 7/28/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.88 million market-linked autocalls with downside on three indexes
By William Gullotti
Buffalo, N.Y., July 28 – GS Finance Corp. priced $2.88 million of 0% market-linked notes – autocallable with contingent downside due July 27, 2026 linked to the performance of the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus an annualized call premium of 11.2% if each index closes at or above its initial level on any annual call observation date.
If the notes are not called at maturity and each index finishes at or above its 75% threshold level, investors will receive par.
Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Wells Fargo Securities, LLC and Goldman Sachs & Co. LLC are the agents.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Market-linked notes – autocallable with contingent downside
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index, Nasdaq-100 index
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| Amount: | $2,877,000
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| Maturity: | July 27, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If not called and each index finishes at or above threshold level, par; otherwise, full exposure to decline of worst performer from initial level
|
| Call: | Automatically at par plus 11.2% annualized call premium if the index closes at or above the initial level on any annual call observation date
|
| Initial levels: | 35,227.69 for Dow, 1,960.255 for Russell, 15,425.67 for Nasdaq
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| Threshold level: | 75% of initial level
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| Pricing date: | July 21
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| Settlement date: | July 26
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| Agents: | Wells Fargo Securities, LLC and Goldman Sachs & Co. LLC
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| Fees: | 2.675%
|
| Cusip: | 40057TLW2
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