Published on 5/25/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $870,000 autocallable index-linked notes on S&P 500
Chicago, May 25 – GS Finance Corp. priced $870,000 of 0% autocallable index-linked notes due July 5, 2024 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be called at par plus a 10% call premium if the index closes at or above its initial level on July 7, 2023.
If the notes are not called and the index finishes flat or positive, the payout at maturity will be par plus 150% of the index return.
Investors will receive par if the index declines by no more than 15% and lose 1% for each 1% decline beyond 15%.
Goldman Sachs & Co. LLC is the underwriter.
| 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 index: | S&P 500 index
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| Amount: | $870,000
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| Maturity: | July 5, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the index finishes at or above its initial level, par plus 150% of index return; if the index declines by up to 15%, par; otherwise, lose 1% for each 1% decline beyond 15%
|
| Call: | At par plus a 10% call premium if index closes at or above initial level on July 7, 2023
|
| Initial level: | 3,785.38
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| Buffer level: | 85% of initial level
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| Pricing date: | June 30, 2022
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| Settlement date: | July 6, 2022
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| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 1%
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| Cusip: | 40057MCU1
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