Published on 2/29/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $1.14 million autocallable basket-linked notes on stock basket
Chicago, Feb. 29 – GS Finance Corp. priced $1.14 million of 0% autocallable basket-linked notes due Feb. 5, 2026 linked to an equally weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the stocks of Alphabet Inc., Amazon.com, Inc., Apple Inc., Microsoft Corp., Meta Platforms, Inc. and Nvidia Corp., each with an approximately 16.667% weight.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be called automatically at par plus a 15% call premium if the basket closes at or above its initial level on Feb. 14, 2025.
If the basket return is zero or positive, the payout at maturity will be par plus1.7045 times the return.
Investors will receive par if the basket falls by up to 20% and be fully exposed to the decline of the basket if it falls by more than 20%.
Goldman Sachs & Co. LLC is the agent, with JPMorgan acting as placement agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable basket-linked notes
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| Underlying stocks: | Alphabet Inc., Amazon.com, Inc., Apple Inc., Microsoft Corp., Meta Platforms, Inc., Nvidia Corp.; equal weights
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| Amount: | $1,138,000
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| Maturity: | Feb. 5, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the basket finishes flat or positive, par plus 1.7045 times the basket return; if the basket falls by no more than 20%, par; otherwise, lose 1% for each 1% decline of the basket from initial level
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| Call: | Automatically at par plus a 15% call premium if the basket closes at or above its initial level on Feb. 14, 2025
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| Initial levels: | $142.38 for Alphabet, $171.81 for Amazon, $185.85 for Apple, $474.99 for Meta, $411.22 for Microsoft, $661.60 for Nvidia
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| Threshold level: | 80% of initial level
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| Pricing date: | Feb. 2
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| Settlement date: | Feb. 7
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| Agent: | Goldman Sachs & Co. LLC, with JPMorgan as placement agent
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| Fees: | 1.5%
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| Cusip: | 40057Y6B4
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