Published on 1/5/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $4.98 million autocallable index-linked notes on Dow, Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, Jan. 5 – GS Finance Corp. priced $4.98 million of 0% autocallable index-linked notes due Nov. 24, 2025 tied to the Dow Jones industrial average index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its initial level on Nov. 16, 2023, the notes will be called at par plus a 23.25% call premium.
If the notes are not called and each index finishes at or above its initial level, the payout will be par plus 1.5 times the lowest performing index return.
If the worst performer declines but finishes at or above 70% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable index-linked notes
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| Underlying indexes: | Dow Jones industrial average index, S&P 500 index, Russell 2000 index
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| Amount: | $4,979,000
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| Maturity: | Nov. 24, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the notes are not called and each index finishes at or above its initial level, par plus 1.5 times the lowest performing index return; if worst performer declines but finishes above trigger buffer level, par; otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level
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| Call: | If each index closes at or above initial level on Nov. 16, 2023, notes will be called at par plus 23.25% call premium
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| Initial index levels: | 33,553.83 for Dow, 3,958.79 for S&P, 1,853.165 for Russell
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| Trigger buffer levels: | 70% of initial levels
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| Pricing date: | Nov. 16
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| Settlement date: | Nov. 21
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 40057NXF9
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