Published on 6/14/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $674,000 autocallables linked to Russell 2000 Value, S&P 500
By Angela McDaniels
Tacoma, Wash., June 14 – GS Finance Corp. priced $674,000 of 0% autocallable index-linked notes due Aug. 2, 2027 linked to the Russell 2000 Value index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 9.5% per year if each index closes at or above its initial level on any annual call observation date.
If the final level of each index is greater than or equal to its initial level, the payout at maturity will be par plus 47.5%. If the final level of each index is greater than or equal to 70% of its initial level but the final level of either index is less than its initial level, the payout will be par. If the final level of any index is less than 70% of its initial level, investors will be exposed to the decline of the lesser performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Autocallable index-linked notes
|
| Underlying indexes: | Russell 2000 Value index and the S&P 500 index
|
| Amount: | $674,000
|
| Maturity: | Aug. 2, 2027
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final level of each index is greater than or equal to initial level, par plus 47.5%; if final level of each index is greater than or equal to 70% of initial level but final level of either index is less than initial level, par; if final level of any index is less than 70% of initial level, exposure to decline of lesser performing index
|
| Call: | Automatically at par plus 9.5% per year if each index closes at or above initial level on any annual call observation date
|
| Initial levels: | 2,148.741 for Russell and 3,921.05 for S&P
|
| Barrier levels: | 70% of initial levels
|
| Pricing date: | July 26, 2022
|
| Settlement date: | July 29, 2022
|
| Underwriter: | Goldman Sachs & Co. LLC
|
| Fees: | 4.09%
|
| Cusip: | 40057MKC2
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
