Published on 2/26/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $291,000 autocallable index-linked notes on Russell, Nasdaq, Dow
By Kiku Steinfeld
Chicago, Feb. 26 – GS Finance Corp. priced $291,000 of 0% autocallable index-linked notes due July 5, 2028 tied to the Dow Jones industrial average, the Nasdaq-100 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 the Dec. 29, 2025 observation date, the notes will be called at $1,300 per $1,000 note.
If the notes are not called and each index finishes at or above its initial level, the payout will be par plus twice the gain of the least performing index.
If the worst performer finishes above 60% of its initial level, the payout will be par.
If any index falls by more than 40%, investors will be exposed to any losses of the lesser-performing index beyond the 40% buffer.
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: | Dow Jones industrial average, Nasdaq-100 index, Russell 2000 index
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| Amount: | $291,000
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| Maturity: | July 5, 2028
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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 twice the gain of the least performing index; if worst performer finishes above 60% of initial level, par; if any index falls by more than 40%, investors will be exposed to any losses of the lesser-performing index beyond the 40% buffer
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| Call: | If each index closes at or above initial level on the Dec. 29, 2025 observation date, notes will be called at $1,300 per note
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| Initial index levels: | 33,926.74 for Dow, 14,945.91 for Nasdaq, 1,849.930 for Russell
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| Buffer levels: | 60% of initial levels
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| Pricing date: | June 27, 2023
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| Settlement date: | June 30, 2023
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 4.125%
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| Cusip: | 40057T2L7
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