Published on 2/5/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $589,000 autocallable index-linked notes on S&P 500, Russell
Chicago, Feb. 5 – GS Finance Corp. priced $589,000 of 0% autocallable index-linked notes due May 19, 2026 tied to the S&P 500 index and the Russell 2000 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 13.2% call premium if the lesser performing index closes at or above its initial level on May 19, 2026,.
If the notes are not called, the payout at maturity will be par plus 1.5 times any gain of the lesser performing index. If the lesser performing index falls but finishes at greater than or equal to 70% of its initial level, investors will receive par. Otherwise, investors will be fully exposed to the decline of the lesser performing index.
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 indexes: | S&P 500 index and Russell 2000 index
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| Amount: | $589,000
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| Maturity: | May 19, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If lesser performer gains, par plus 1.5 times index return; if the lesser performing index falls but finishes at or above its barrier level, par; otherwise, investors will be fully exposed to the decline of the lesser performing index
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| Call: | At par plus 13.2% call premium if lesser performing index closes at or above initial level on May 19, 2026
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| Initial levels: | 4,124.08 for S&P, 1,740.849 for Russell
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| Barrier levels: | 70% of initial levels
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| Pricing date: | May 12, 2023
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| Settlement date: | May 17, 2023
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 3%
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| Cusip: | 40057RSE9
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