Published on 12/2/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $3.33 million variable coupon equity autocalls on five tech stocks
By William Gullotti
Buffalo, N.Y., Dec. 2 – GS Finance Corp. priced $3.33 million of autocallable variable coupon equity-linked notes due Nov. 30, 2027 linked to the stocks of Apple Inc., Alphabet Inc., Netflix, 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 monthly coupon at an annual rate of 8% if each stock closes above its initial level on a related determination date. Otherwise, the monthly coupon will be paid at a rate of 4% per annum.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial level on any monthly valuation date after one year.
The payout at maturity will be par plus the relevant coupon.
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 variable coupon equity-linked securities
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| Underlying stocks: | Netflix, Inc., Amazon.com, Inc., Tesla, Inc., Alphabet Inc., Apple Inc.
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| Amount: | $3.33 million
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| Maturity: | Nov. 30, 2027
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| Coupon: | 8% annual rate if closing price of each stock is greater than or equal to initial level on related observation date, otherwise, 4% annual rate; payable monthly
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| Price: | Par
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| Payout at maturity: | Par plus relevant coupon
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| Call: | At par plus coupon if closing level of least performing stock is greater than or equal to its initial level on any monthly valuation date after one year
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| Initial levels: | $286.69 for Netflix, $93.20 for Amazon, $169.91 for Tesla, $97.33 for Alphabet, $150.18 for Apple
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| Pricing date: | Nov. 22
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| Settlement date: | Nov. 28
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 3.75%
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| Cusip: | 40057NYS0
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