Published on 2/12/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $497,000 autocallable variable coupon notes on stocks, ETF
Chicago, Feb. 12 – GS Finance Corp. priced $497,000 of autocallable variable coupon underlier-linked notes due June 2, 2028 linked to the Energy Select Sector SPDR Fund, the class A common stock of Airbnb, Inc. and the common stock of 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 asset 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 plus the coupon if each asset 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 underlier-linked notes
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| Underlying assets: | Energy Select Sector SPDR Fund (Ticker: XLE), Airbnb, Inc. (Ticker: ABNB) and Tesla, Inc. (Ticker: TSLA)
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| Amount: | $497,000
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| Maturity: | June 2, 2028
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| Coupon: | 8% annual rate if closing price of each asset is greater than or equal to coupon barrier on related observation date, otherwise, 0.25% 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 asset is greater than or equal to its initial level on any monthly valuation date after one year
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| Initial levels: | $79.08 for energy, $104.42 for Airbnb, $184.47 for Tesla
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| Coupon barriers: | 70% of initial levels
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| Pricing date: | May 25, 2023
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| Settlement date: | May 31, 2023
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 3.75%
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| Cusip: | 40057RXS2
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