Published on 2/2/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $869,000 autocallable basket-linked notes on ETF, index basket
Chicago, Feb. 2 – GS Finance Corp. priced $869,000 of 0% autocallable basket-linked notes due May 17, 2028 linked to a weighted index basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index with a 40% weight, the Russell 2000 index with a 30% weight, the iShares MSCI EAFE ETF with a 20% weight and the iShares MSCI Emerging Markets ETF with a 10% weight.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be called automatically at par plus a 10% annualized call premium if the basket closes at or above its initial level on May 10, 2024.
If the basket return is zero or positive, the payout at maturity will be par plus twice the return.
Investors will receive par if the basket falls by up to 35%.
Otherwise, investors will be fully exposed to the decline of the basket.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable basket-linked notes
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| Underlying assets: | S&P 500 index (40% weight), Russell 2000 index (30% weight), iShares MSCI EAFE ETF (20% weight) and iShares MSCI Emerging Markets ETF (10% weight)
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| Amount: | $869,000
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| Maturity: | May 17, 2028
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If the basket finishes flat or positive, par plus double any gain; par if basket declines but finishes above trigger buffer level; otherwise, 1% loss for each 1% decline from initial level
|
| Call: | Automatically at par plus a 10% annualized call premium if the basket closes at or above its initial level on May 10, 2024
|
| Initial levels: | 4,137.64 for S&P, 1,759.512 for Russell, $73.45 for EAFE, $39.15 for EM
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| Trigger buffer level: | 65% of initial level
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| Pricing date: | May 10, 2023
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| Settlement date: | May 15, 2023
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 1.1%
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| Cusip: | 40057RUD8
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