Published on 8/29/2023 in the Prospect News Structured Products Daily.
New Issue: GS prices $1.53 million autocallable contingent coupon equity notes on stocks
By Wendy Van Sickle
Columbus, Ohio, Aug. 29 – GS Finance Corp. priced $1.53 million of autocallable contingent coupon equity-linked notes due Aug. 28, 2030 linked to the stocks of Advanced Micro Devices, Inc., Freeport-McMoRan Inc., Nvidia Corp., Tesla, Inc. and Shopify 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 contingent monthly coupon at an annual rate of 14.25% if each stock closes above its coupon barrier price, 68.8% of its initial price, on a related determination date.
The notes will be automatically called at par plus coupon if each stock closes at or above its initial share price on any monthly call observation date after one year.
If the notes are not called, the payout at maturity will be par plus the final coupon, if any.
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 contingent coupon equity-linked securities
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| Underlying stocks: | Advanced Micro Devices, Inc., Freeport-McMoRan Inc., Nvidia Corp., Tesla, Inc., Shopify Inc.
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| Amount: | $1,526,000
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| Maturity: | Aug. 28, 2030
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| Coupon: | 14.25% annual rate; payable monthly if closing price of each stock is greater than or equal to coupon barrier on related observation date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon, if any
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| Call: | At par plus coupon if closing share price of least performing stock is greater than or equal to its initial share price on any monthly observation date after one year
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| Initial share prices: | $108.22 for AMD, $38.73 for Freeport-McMoRan, $231.28 for Tesla, $469.67 for Nvidia, $53.93 for Shopify
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| Coupon barrier prices: | 68.8% of initial prices
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| Pricing date: | Aug. 21
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| Settlement date: | Aug. 24
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 4.125%
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| Cusip: | 40057TVS0
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