Published on 3/12/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $424,000 autocallable variable coupon equity notes on three stocks
By Kiku Steinfeld
Chicago, March 13 – GS Finance Corp. priced $424,000 of autocallable variable coupon equity-linked notes due Dec. 6, 2027 linked to the stock performance of Tesla, Inc., Advanced Micro Devices, Inc. and Walt Disney Co., 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 8.88% if each stock closes above its coupon barrier price, 70% of its initial price, on a related determination date. Otherwise, the monthly coupon will be paid at a rate of 0.25% per annum.
The notes will be automatically called at par if each stock closes at or above 90% of its initial level on any monthly valuation date after one year.
The payout at maturity will be par.
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 notes
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| Underlying stocks: | Tesla, Inc., Advanced Micro Devices, Inc. and Walt Disney Co.
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| Amount: | $424,000
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| Maturity: | Dec. 6, 2027
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| Coupon: | 8.88% annual rate if closing price of each stock is greater than or equal to coupon barrier on related observation date, otherwise, 0.25% annual rate; payable monthly
|
| Price: | Par
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| Payout at maturity: | Par
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| Call: | At par if closing level of least performing stock is greater than or equal to 90% of its initial level on any monthly valuation date after one year
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| Initial levels: | $73.19 for AMD, $95.69 for Disney, $182.92 for Tesla
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| Coupon barriers: | 70% of initial levels
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| Pricing date: | Nov. 28, 2022
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| Settlement date: | Nov. 30, 2022
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 3.75%
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| Cusip: | 40057NZ42
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