Published on 2/12/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $572,000 autocallable variable coupon equity notes on five stocks
Chicago, Feb. 12 – GS Finance Corp. priced $572,000 of autocallable variable coupon equity-linked notes due June 2, 2028 linked to the stock performance of Amazon.com, Inc., Meta Platforms, Inc., Netflix, Inc., Nvidia Corp. and 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 7% if each stock closes at or above its initial level on a related determination date. Otherwise, the monthly coupon will be paid at a rate of 3% per annum.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial level on any quarterly 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 equity-linked securities
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| Underlying stocks: | Amazon.com, Inc., Meta Platforms, Inc., Netflix, Inc., Nvidia Corp. and Tesla, Inc.
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| Amount: | $572,000
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| Maturity: | June 2, 2028
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| Coupon: | 7% annual rate if closing price of each stock is greater than or equal to initial level on related observation date, otherwise, 3% annual rate; payable monthly
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| Price: | Par
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| Payout at maturity: | Par plus relevant coupon
|
| Call: | At par plus coupon if closing level of least performing stock is greater than or equal to its initial level on any quarterly valuation date after one year
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| Initial levels: | $115.00 for Amazon, $252.69 for Meta, $359.00 for Netflix, $379.80 for Nvidia, $184.47 for Tesla
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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: | 40057RVL9
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