Published on 9/18/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $809,000 autocallable contingent coupon notes on indexes, ETF
Chicago, Sept. 18 – GS Finance Corp. priced $809,000 of autocallable contingent coupon underlier-linked notes due Sept. 6, 2024 linked to the S&P 500 index, the Nasdaq-100 index and the VanEck Semiconductor ETF, 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 quarterly coupon at an annual rate of 13.1% if each underlier closes at or above its coupon barrier level, 65% of its initial level, on the relevant observation date.
The notes will be called at par plus the coupon if each underlier closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon if each underlier finishes at or above the 65% trigger level.
Otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level.
Goldman Sachs & Co. LLC are the agents.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon underlier-linked notes
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| Underlying assets: | S&P 500 index, Nasdaq-100 index and VanEck Semiconductor ETF
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| Amount: | $809,000
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| Maturity: | Sept. 6, 2024
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| Coupon: | 13.1% annual rate, payable quarterly if each underlier closes at or above coupon barrier level on related observation date
|
| Price: | Par
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| Payout at maturity: | If each underlier finishes at or above trigger level, par; otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level
|
| Call: | At par plus contingent coupon if each underlier closes at or above initial level on any quarterly observation date after six months
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| Initial levels: | 3,955 for S&P, 12,272.03 for Nasdaq, $214.57 for ETF
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| Coupon barriers: | 65% of initial levels
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| Trigger levels: | 65% of initial levels
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| Pricing date: | Aug. 31, 2022
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| Settlement date: | Sept. 6, 2022
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| Agents: | Goldman Sachs & Co. LLC
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| Fees: | 1.75%
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| Cusip: | 40057N2M8
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