Published on 10/31/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $212,000 autocallable index-linked notes tied to S&P, Russell
By Kiku Steinfeld
Chicago, Oct. 31 – GS Finance Corp. priced $212,000 of 0% autocallable index-linked notes due April 7, 2025 tied to 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 April 1, 2024, the notes will be called at par plus a 14% call premium.
If the notes are not called and each index finishes at or above its initial level, the payout will be par plus 125% of the return of the lesser-performing index.
If the worst performer declines but finishes at or above 85% of its initial level, the payout will be par.
If any index falls by more than 15%, investors will be exposed to the decline of the worst performing index beyond 15%.
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: | S&P 500 index, Russell 2000 index
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| Amount: | $212,000
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| Maturity: | April 7, 2025
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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 at or above its initial level, par plus 125% of lesser index return; if worst performer declines but finishes at or above 85% of initial level, par; otherwise, investors will be exposed to the decline of the worst performing index beyond 15%
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| Call: | If each index closes at or above initial level on April 1, 2024, notes will be called at par plus 14% call premium
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| Initial index levels: | 4,109.31 for S&P, 1,802.484 for Russell
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| Buffer levels: | 85% of initial levels
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| Pricing date: | March 31, 2023
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| Settlement date: | April 5, 2023
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.58%
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| Cusip: | 40057PX31
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