Published on 8/24/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $10.73 million contingent income autocallables on indexes
Chicago, Aug. 24 – GS Finance Corp. priced $10.73 million of contingent income autocallable securities due Aug. 21, 2025 linked to the worst performing of the Russell 2000 index, Nasdaq-100 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.1%, paid quarterly, if each underlying index closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities will be called automatically at par if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date.
At maturity the payout will be par unless the worst performing index closes below its 70% downside threshold level in which case investors will be fully exposed to the decline of the worst performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent with Morgan Stanley Smith Barney LLC as dealer.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Contingent income autocallable securities
|
| Underlying indexes: | Russell 2000 index, Nasdaq-100 index and S&P 500 index
|
| Amount: | $10,730,000
|
| Maturity: | Aug. 21, 2025
|
| Coupon: | 9.1% annual rate, paid quarterly, if each underlying index closes at or above its 70% coupon barrier on the related quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless the worst performing index closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing index
|
| Call: | Automatically at par if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date
|
| Initial levels: | 14,694.84 for Nasdaq, 1,859.421 for Russell, 4,369.71 for S&P
|
| Coupon barriers: | 10,286.388 for Nasdaq, 1,301.5947 for Russell, 3,058.797 for S&P, 70% of initial levels
|
| Downside thresholds: | 10,286.388 for Nasdaq, 1,301.5947 for Russell, 3,058.797 for S&P, 70% of initial levels
|
| Pricing date: | Aug. 18
|
| Settlement date: | Aug. 23
|
| Agent: | Goldman Sachs & Co. LLC with Morgan Stanley Smith Barney LLC as dealer
|
| Fees: | 2%
|
| Cusip: | 40057TUU6
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
