Published on 2/27/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $500,000 of autocallable fixed-coupon notes on three stocks
Chicago, Feb. 27 – GS Finance Corp. priced $500,000 of 23.2% autocallable fixed-coupon notes due May 12, 2025 linked to the common stocks of Apple Inc., Microsoft Corp. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
Interest is payable monthly.
The notes will be automatically called at par plus the coupon if the least-performing stock closes at or above its initial price on any monthly call observation date starting after three months.
If the notes are not subject to an automatic call, the payout at maturity will be par unless any stock finishes below the 60% trigger price, in which case investors will lose 1% for each 1% decline of the least-performing stock from its initial price.
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 fixed-coupon notes
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| Underlying stocks: | Apple Inc., Microsoft Corp. and Tesla, Inc.
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| Amount: | $500,000
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| Maturity: | May 12, 2025
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| Coupon: | 23.2%, payable monthly
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| Price: | Par
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| Call: | At par plus the coupon if all stocks close at or above their initial prices on any monthly call observation date starting after three months
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| Payout at maturity: | Par unless any stock finishes below the trigger price, in which case investors will lose 1% for each 1% decline of the least-performing stock from its initial price
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| Initial prices: | $156.77 for Apple, $277.35 for Microsoft, $873.28 for Tesla
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| Trigger prices: | 60% of initial levels
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| Pricing date: | May 5, 2022
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| Settlement date: | May 10, 2022
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 3.5%
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| Cusip: | 40057LY47
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