Published on 3/17/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $4.63 million autocallable index-linked notes on Stoxx, S&P
By Kiku Steinfeld
Chicago, March 18 – GS Finance Corp. priced $4.63 million of 0% autocallable index-linked notes due July 10, 2028 tied to the S&P 500 index and the Euro Stoxx 50 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 9.25% annualized premium if the indexes close at or above their initial levels on any annual call date.
If the notes are not called and each index closes at or above its initial level, the payout at maturity will be par plus 46.25%.
If the lesser performing index falls by up to 40%, the payout will be par.
If either index falls by more than 40%, investors will be exposed to any losses of the worst-performing index.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| 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 Euro Stoxx 50 index
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| Amount: | $4,628,000
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| Maturity: | July 10, 2028
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If the notes are not called and each index closes at or above its initial level, par plus 46.25%; if the lesser performing index falls by up to 40%, par; if either index falls by more than 40%, investors will be exposed to any losses of the worst-performing index
|
| Call: | At par plus 9.25% annualized premium if the indexes close at or above their initial levels on any annual call date
|
| Initial levels: | 4,450.38 for S&P, 4,399.09 for Stoxx
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| Barrier levels: | 60% of initial levels
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| Pricing date: | June 30, 2023
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| Settlement date: | July 6, 2023
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 4.1%
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| Cusip: | 40057TAR5
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