Published on 2/8/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $4.15 million leveraged market-linked autocalls on index, ETFs
By William Gullotti
Buffalo, N.Y., Feb. 8 – GS Finance Corp. priced $4.15 million of 0% market-linked securities – autocallable with leveraged upside participation and contingent downside due Jan. 14, 2027 linked to the performance of the Russell 2000 index, the Invesco QQQ Trust, Series 1 and the Financial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be redeemed early at par plus a 22% call premium if the worst performer closes at or above its initial level on Jan. 17, 2025.
If the notes are not called, the payout at maturity will be par plus 150% of any gain of the worst performer.
Investors will receive par if the worst performer declines by no more than 20% and will be fully exposed to the decline of the worst performer if it declines beyond 20%.
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 assets: | Russell 2000 index, Financial Select Sector SPDR Fund, Invesco QQQ Trust, Series 1
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| Amount: | $4,147,000
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| Maturity: | Jan. 14, 2027
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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 of worst performer; if worst performer falls by up to 20%, par; otherwise, 1% loss for every 1% decline of worst performer from initial level
|
| Call: | Automatically at par plus 22% if worst performer closes at or above initial level on Jan. 17, 2025
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| Initial levels: | 1,955.456 for Russell, $409.35 for QQQ, $37.67 for SPDR
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| Buffer levels: | 80% of initial levels
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| Pricing date: | Jan. 11
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| Settlement date: | Jan. 17
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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: | 40057XTR6
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