Published on 2/7/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $900,000 market-linked securities on Russell, Nasdaq
Chicago, Feb. 7 – GS Finance Corp. priced $900,000 of 0% market-linked securities – autocallable with leveraged upside participation and contingent downside due May 22, 2026 linked to the lowest performing of the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be redeemed early at par plus a 15.6% call premium if each index closes at or above its initial level on May 22, 2024.
If the notes are not called, the payout at maturity will be par plus 150% of any gain in the laggard index.
Investors will receive par if the laggard index declines by no more than 30% and will be fully exposed to the decline of the laggard index if it falls beyond 30%.
The securities are guaranteed by Goldman Sachs Group, Inc.
Wells Fargo Securities LLC and Goldman Sachs & Co. LLC are the agents.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Market-linked securities – autocallable with leveraged upside participation and contingent downside
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index
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| Amount: | $900,000
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| Maturity: | May 22, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 150% of any gain in laggard index; if laggard index falls by up to 30%, par; otherwise, 1% loss for every 1% decline of laggard index from initial level
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| Call: | Automatically at par plus 15.6% if each index closes at or above initial level on May 22, 2024
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| Initial levels: | 1,774.497 for Russell, 13,589.26 for Nasdaq
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| Barrier levels: | 70% of initial levels
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| Pricing date: | May 17, 2023
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| Settlement date: | May 22, 2023
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| Agent: | Wells Fargo Securities LLC and Goldman Sachs & Co. LLC
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| Fees: | 2.575%
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| Cusip: | 40057RUG1
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