Published on 1/8/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $3.37 million leveraged contingent market-linked autocalls on indexes
By William Gullotti
Buffalo, N.Y., Jan. 8 – GS Finance Corp. priced $3.37 million of 0% market-linked securities – autocallable with leveraged upside participation and contingent downside due Dec. 31, 2026 linked to the Russell 2000 index, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be redeemed early at par plus a 14.8% call premium if each index closes at or above its initial level on Jan. 3, 2025.
If the notes are not called, the payout at maturity will be par plus 150% of any gain in the least performing index.
Investors will receive par if the worst performer declines by no more than 25% and will be fully exposed to the decline of the worst performer if it falls beyond 25%.
The securities are guaranteed by Goldman Sachs Group, Inc.
Wells Fargo Securities LLC and Goldman Sachs & Co. LLC are the agents.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Market-linked securities – autocallable with leveraged upside participation and contingent downside
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| Underlying indexes: | S&P 500 index, Nasdaq-100 index, Russell 2000 index
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| Amount: | $3,365,000
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| Maturity: | Dec. 31, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 150% of any gain in least performing index; if worst performer falls by up to 25%, par; otherwise, 1% loss for every 1% decline of worst performer from initial level
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| Call: | Automatically at par plus 14.8% if each index closes at or above initial level on Jan. 3, 2025
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| Initial levels: | 4,783.35 for S&P, 16,898.47 for Nasdaq, 2,058.335 for Russell
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| Buffer levels: | 75% of initial levels
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| Pricing date: | Dec. 28
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| Settlement date: | Jan. 3
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| Agent: | Wells Fargo Securities LLC and Goldman Sachs & Co. LLC
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| Fees: | 2.575%
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| Cusip: | 40057XLB9
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