Published on 10/25/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $105,000 autocallable notes linked to Russell, Nasdaq
By Angela McDaniels
Tacoma, Wash., Oct. 25 – GS Finance Corp. priced $105,000 of 0% autocallable index-linked notes due Nov. 7, 2025 linked to the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will automatically be called at par plus 16% per year if each index closes at or above its initial level on Oct. 31, 2023 or Oct. 31, 2024.
If each index’s final level is greater than or equal to its initial level, the payout at maturity will be par plus 48%. If the final level of each index is greater than or equal to 60% of its initial level but the final level of either index is less than its initial level, the payout will be par. If the final level of either index is less than 60% of its initial level, investors will lose 1% for every 1% that the lesser performing index declines from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
| 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: | Russell 2000 index and Nasdaq-100 index
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| Amount: | $105,000
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| Maturity: | Nov. 7, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index’s final level is greater than or equal to initial level, par plus 48%; if final level of each index is greater than or equal to 60% of initial level but final level of either index is less than initial level, par; if final level of either index is less than 60% of initial level, 1% loss for every 1% that lesser performing index declines from initial level
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| Call: | Automatically at par plus 16% per year if each index closes at or above initial level on Oct. 31, 2023 or Oct. 31, 2024
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| Initial levels: | 1,846.863 for Russell 2000 and 11,405.57 for Nasdaq-100
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| Barrier levels: | 60% of initial levels
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| Pricing date: | Oct. 31, 2022
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| Settlement date: | Nov. 3, 2022
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 1%
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| Cusip: | 40057NER4
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