Published on 1/25/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $14.29 million autocallable jump securities on indexes
By Emma Trincal
New York, Jan. 25 – GS Finance Corp. priced $14.29 million of 0% jump securities with autocallable feature due Jan. 25, 2029 linked to the worst performing of the S&P 500 index, the Nikkei 225 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting Jan. 29, 2025 at par plus a call premium of 14.5% per year if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date.
At maturity the payout will be par plus 72.5% if the worst performing index finishes above its initial level. If the worst performer declines but finishes at or above its 80% downside threshold level, the payout will be par. Otherwise, investors will be fully exposed to the decline of the worst performing index.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the underwriter. Morgan Stanley & Co. LLC is acting as the dealer.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Jump securities with autocallable feature
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| Underlying indexes: | S&P 500 index, Nikkei 225 index and Euro Stoxx 50 index
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| Amount: | $14,289,000
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| Maturity: | Jan. 25, 2029
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 72.5% if worst performing index finishes above its initial level; par if worst performing index declines but finishes above its 80% downside threshold level; otherwise, full exposure to decline of worst performing index
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| Call: | Automatically starting Jan. 29, 2025 at par plus call premium of 14.5% per year if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date
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| Initial levels: | 4,850.43 for S&P, 36,546.95 for Nikkei and 4,480.32 for Euro Stoxx
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| Downside thresholds: | 3,880.344 for S&P, 29,237.56 for Nikkei and 3,584.256 for Euro Stoxx, 80% of initial levels
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| Pricing date: | Jan. 22
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| Settlement date: | Jan. 25
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| Underwriter: | Goldman Sachs & Co. LLC
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| Dealer: | Morgan Stanley & Co. LLC
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| Fees: | 3.25%
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| Cusip: | 40057XXM2
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