Published on 12/20/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $15.66 million buffer autocallable gears tied to index basket
By Wendy Van Sickle
Columbus, Ohio, Dec. 20 – GS Finance Corp. priced $15.66 million of 0% buffer autocallable gears due Dec. 17, 2026 linked to an unequally 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 is composed 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 a 7.5% weight.
The notes will be called automatically at par plus 12% if the basket closes at or above its initial level on Dec. 23, 2024.
If the basket return is greater than zero, the payout at maturity will be par of $10 plus 2.393 times the basket return.
Investors will receive par if the basket declines by 10% or less and will lose 1% for every 1% that the basket declines beyond 10%.
Goldman Sachs & Co. LLC is the underwriter with UBS Financial Services Inc. as selling agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Buffer autocallable gears
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| Underlying basket: | 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)
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| Amount: | $15,656,740
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| Maturity: | Dec. 17, 2026
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| Coupon: | 0%
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| Price: | Par of $10
|
| Payout at maturity: | If basket return is greater than zero, par plus 2.393 times basket return; par if basket declines by 10% or less; 1% loss for every 1% that basket declines beyond 10%
|
| Call: | Automatically at par plus 12% if basket closes at or above initial level on Dec. 23, 2024
|
| Initial levels: | 4,549.44 for Stoxx, 32,970.55 for Nikkei, 7,576.36 for FTSE, 11,191.89 for Swiss Market, 7,442.691 for S&P/ASX 200
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| Buffer level: | 90% of initial level
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| Pricing date: | Dec. 15
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| Settlement date: | Dec. 19
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| Underwriter: | Goldman Sachs & Co. LLC with UBS Financial Services Inc. as selling agent
|
| Fees: | 2.5%
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| Cusip: | 36266M765
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