Published on 5/17/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.4 million autocallable index-linked notes on three indexes
By William Gullotti
Buffalo, N.Y., May 17 – GS Finance Corp. priced $1.4 million of 0% autocallable index-linked notes due May 19, 2025 tied to the Nasdaq-100 Technology Sector index, 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 May 13, 2024, the notes will be called at par plus a 16.75% call premium.
If the notes are not called and each index finishes at or above its initial level, the payout will be par plus 300% of the worst performing index’s return.
If the worst performer declines but finishes at or above 70% of its initial level, the payout will be par.
If any index falls by more than 30%, investors will be exposed to the decline of the worst performing index from its initial level.
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: | Nasdaq-100 Technology Sector index, S&P 500 index, Russell 2000 index
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| Amount: | $1,396,000
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| Maturity: | May 19, 2025
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| Coupon: | 0%
|
| 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 300% of the worst performing index’s return; if worst performer declines but finishes at or above 70% of initial level, par; otherwise, investors will be exposed to the decline of the worst performing index from its initial level
|
| Call: | If each index closes at or above initial level on May 13, 2024, notes will be called at par plus a 16.75% call premium
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| Initial index levels: | 6,777.356 for Nasdaq Technology, 4,124.08 for S&P, 1,740.849 for Russell
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| Trigger buffer levels: | 70% of initial levels
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| Pricing date: | May 12
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| Settlement date: | May 17
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 0.76%
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| Cusip: | 40057RSS8
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