Published on 3/27/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $831,000 autocallable notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., March 27 – GS Finance Corp. priced $831,000 of 0% autocallable index-linked notes due July 6, 2028 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 10.5% if the index closes at or above the initial index level on July 1, 2024.
If the notes are not called and the index return is positive or zero, the payout at maturity will be par plus 1.5 times the index return. If the index return is negative but not below negative 40%, the payout will be par. If the index return is below negative 40%, investors will lose 1% for every 1% that the index declines from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
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 index: | S&P 500 index
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Amount: | $831,000
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Maturity: | July 6, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive or zero, par plus 1.5 times index return; if index return is negative but not below negative 40%, par; if index return is below negative 40%, 1% loss for every 1% that index declines from initial level
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Call: | Automatically at par plus 10.5% if index closes at or above initial index level on July 1, 2024
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Initial level: | 4,450.38
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Barrier level: | 60% of initial level
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Pricing date: | June 30, 2023
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Settlement date: | July 6, 2023
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 1.25%
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Cusip: | 40057RYZ5
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