Published on 1/9/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $4.43 million 10.5% autocallable fixed coupon notes on three tech stocks
By Wendy Van Sickle
Columbus, Ohio, Jan. 9 – GS Finance Corp. priced $4.43 million of 10.5% autocallable fixed coupon equity-linked notes due Jan. 8, 2026 linked to the common stocks of Tesla, Inc., Apple Inc. and Amazon.com, 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 level on any quarterly call observation date.
If the notes are not subject to an automatic call, the payout at maturity will be par unless any stock finishes below the 50% trigger buffer, in which case investors will lose 1% for each 1% decline of the least-performing stock from its initial level.
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 equity-linked notes
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| Underlying stocks: | Tesla, Inc., Apple Inc., Amazon.com, Inc.
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| Amount: | $4,428,000
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| Maturity: | Jan. 8, 2026
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| Coupon: | 10.5%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below the trigger buffer, in which case investors will lose 1% for each 1% decline of the least-performing stock from its initial level
|
| Call: | At par plus the coupon if all stocks close at or above their initial levels on any quarterly call observation date
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| Initial levels: | $238.45 for Tesla, $184.25 for Apple, $148.47 for Amazon
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| Trigger buffers: | 50% of initial levels
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| Pricing date: | Jan. 3
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| Settlement date: | Jan. 8
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 1.25%
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| Cusip: | 40057XMG7
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