Published on 10/10/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance adds $53,000 autocallable index-linked notes on S&P, Russell, Nasdaq
Chicago, Oct. 10 – GS Finance Corp. added $53,000 of 0% autocallable index-linked notes due Aug. 31, 2026 tied to the Nasdaq-100 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 Aug. 23, 2024, the notes will be called at par plus a 13% call premium.
If the notes are not called and each index finishes above its initial level, the payout will be par plus 1.5 times the return of the least performing index.
If the worst performer declines but finishes at or above 67% of its initial level, the payout will be par plus the absolute value of the lowest return. Otherwise, investors will lose 1% for every 1% decline of the worst performer.
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, S&P 500 index, Russell 2000 index
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| Amount: | $53,000
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| Maturity: | Aug. 31, 2026
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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 above its initial level, par plus 1.5 times the return of the least performing index; if worst performer falls but finishes at or above 67% of initial level, par plus absolute value of the lowest return; otherwise, lose 1% for every 1% decline of the worst performer
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| Call: | If each index closes at or above initial level on Aug. 23, 2024, notes will be called at par plus a 13% call premium
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| Initial index levels: | 4,436.01 for S&P, 1,870.032 for Russell, 15,148.06 for Nasdaq
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| Trigger buffer levels: | 67% of initial levels
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| Pricing date: | Oct. 5
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| Settlement date: | Oct. 6
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.8%
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| Total issue size: | $999,000 with original $946,000 of notes issued on Aug. 23
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| Cusip: | 40057TUJ1
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