Published on 10/4/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $550,000 autocallable contingent coupon notes linked to stock basket
By Angela McDaniels
Tacoma, Wash., Oct. 4 – GS Finance Corp. priced $550,000 of autocallable contingent coupon equity-linked notes due Sept. 30, 2024 linked to an equally weighted basket comprised of the class A common stock of Airbnb, Inc., the class A common stock of CrowdStrike Holdings, Inc., the common stock of Nvidia Corp., the class A common stock of Snowflake Inc. and the common stock of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 12.1% per year if the basket closes at or above the coupon trigger level, 50% of the initial level, on the observation date for that month.
Beginning in September 2023, the notes will be called automatically at par if the basket closes at or above the initial level on any monthly observation date.
If the notes are not called, the payout at maturity will be par unless the basket finishes below the trigger buffer level, 50% of the initial share level, in which case investors will be exposed to the basket’s decline from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable contingent coupon equity-linked notes
|
| Underlying stocks: | Airbnb, Inc., CrowdStrike Holdings, Inc., Nvidia Corp., Snowflake Inc. and Tesla, Inc., equally weighted
|
| Amount: | $550,000
|
| Maturity: | Sept. 30, 2024
|
| Coupon: | 12.1% per year, payable monthly if basket closes at or above coupon trigger level on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless basket finishes below trigger buffer level, in which case investors will be exposed to basket’s decline from initial share level
|
| Call: | Beginning in September 2023, automatically at par if basket closes at or above initial level on any monthly observation date
|
| Initial share prices: | $101.75 for Airbnb, $160.39 for CrowdStrike, $125.16 for Nvidia, $172.13 for Snowflake and $275.33 for Tesla
|
| Coupon trigger level: | 50% of initial level
|
| Trigger buffer level: | 50% of initial level
|
| Pricing date: | Sept. 23, 2022
|
| Settlement date: | Sept. 28, 2022
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 0.55%
|
| Cusip: | 40057NCK1
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
