Published on 9/12/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $438,000 autocallable index-linked notes on Russell, Nasdaq
Chicago, Sept. 12 – GS Finance Corp. priced $438,000 of 0% autocallable index-linked notes due Sept. 3, 2025 tied to the Nasdaq-100 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 any semiannual call observation date starting after one year, the notes will be called at par plus an 9.65% annualized call premium.
If each index finishes above its initial level, the payout at maturity will be par plus 1.5 times the return of the worst performing index.
If the worst performer declines but finishes at or above 85% of its initial level, the payout will be par. Otherwise, investors will lose 1% for every 1% decline of the worst performer beyond the 15% buffer.
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: | Nasdaq-100 index, Russell 2000 index
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| Amount: | $438,000
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| Maturity: | Sept. 3, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above its initial level, par plus 1.5 times return of worst performing index; if worst performer finishes above 85% of initial level, par; otherwise, lose 1% for every 1% decline of the worst performer beyond 15% buffer
|
| Call: | If each index closes at or above initial level on any semiannual call observation date starting after one year, par plus 9.65% annualized call premium
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| Initial index levels: | 12,605.17 for Nasdaq, 1,899.83 for Russell
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| Buffer levels: | 85% of initial levels
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| Pricing date: | Aug. 26, 2022
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| Settlement date: | Aug. 31, 2022
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 3.24%
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| Cusip: | 40057MRL5
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