Published on 2/10/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $10 million basket-linked buffer autocallable securities
By William Gullotti
Buffalo, N.Y., Feb. 10 – GS Finance Corp. priced $10 million of 0% basket-linked buffer autocallable securities due Feb. 10, 2028 tied to a weighted basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The basket consists of the Euro Stoxx 50 index with a 40% weight, the Nikkei 225 index with a 25% weight, the FTSE 100 index with a 17.5% weight, the Swiss Market index with a 10% weight and the S&P/ASX 200 index with an 7.5% weight.
The notes will be automatically called at par plus 12% if the basket closes at or above its initial level on Feb. 7, 2024.
If the notes are not called and the basket return is positive, the payout at maturity will be par plus the gain.
Investors will receive par if the basket falls by up to 50% and will lose 1% for each 1% loss beyond 50%.
Goldman Sachs & Co. LLC is the agent with UBS Financial Services Inc. as selling agent.
| Issuer: | GS Finance Corp.
|
| Guarantor | Goldman Sachs Group, Inc.
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| Issue: | Basket-linked buffer autocallable securities
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| Underlying indexes: | Euro Stoxx 50 index (40% weight), Nikkei 225 index (25% weight), FTSE 100 index (17.5% weight), Swiss Market index (10% weight), S&P/ASX 200 index (7.5% weight)
|
| Amount: | $9,995,700
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| Maturity: | Feb. 10, 2028
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If the notes are not called and the basket return is positive, par plus the gain; par if the basket falls by up to 50%; otherwise, 1% loss for each 1% decline beyond 50%
|
| Call: | Automatically at par plus 12% if the basket closes at or above initial level on Feb. 7, 2024
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| Initial levels: | 4,209.31 for Stoxx, 27,685.47 for Nikkei 225, 7,864.71 for FTSE, 11,233.87 for Swiss Market, 7,504.139 for S&P/ASX
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| Buffer level: | 50% of initial basket level
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| Pricing date: | Feb. 7
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| Settlement date: | Feb. 10
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| Agent: | Goldman Sachs & Co. LLC with UBS Financial Services Inc. as selling agent
|
| Fees: | 2.5%
|
| Cusip: | 36264U793
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