Published on 9/11/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $10.62 million contingent income callable securities linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, Sept. 11 – GS Finance Corp. priced $10.62 million of contingent income callable securities due Sept. 9, 2033 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.1% per year, payable quarterly, if the index closes at or above its 75% coupon barrier on the relevant observation date.
The securities may be called at par on any quarterly observation date starting March 8, 2024.
If the index finishes at or above its 75% downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the index declines from initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
|
| Issue: | Contingent income callable securities
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| Underlying index: | S&P 500 index
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| Amount: | $10,615,000
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| Maturity: | Sept. 9, 2033
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| Coupon: | 8.1% per year, payable quarterly if the index closes at or above coupon barrier on the relevant observation date
|
| Price: | Par
|
| Payout at maturity: | If index finishes at or above its downside threshold level, par; 1% loss for every 1% that index declines if it finishes below its downside threshold level
|
| Call option: | At par on any quarterly observation date starting March 8, 2024
|
| Initial level: | 4,496.83
|
| Coupon barrier: | 3,372.6225, 75% of initial level
|
| Downside threshold: | 3,372.6225, 75% of initial level
|
| Pricing date: | Sept. 5
|
| Settlement date: | Sept. 8
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| Agent: | Goldman Sachs & Co. LLC
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 0.75%
|
| Cusip: | 40057W4H7
|
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