Published on 4/21/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $379,000 autocallable buffered index-linked notes on S&P 500
By Kiku Steinfeld
Chicago, April 22 – GS Finance Corp. priced $379,000 of 0% autocallable buffered index-linked notes due Feb. 3, 2025 tied to the S&P 500 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 9.7% call premium if the index closes at or above its initial level on July 29, 2024.
If the notes are not called and the index finishes positive, the payout at maturity will be par plus the index gain.
If the index falls by up to 10%, the payout will be par plus the absolute value of the index return. Otherwise, investors will lose 1% for every 1% decline beyond 10%.
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 buffered index-linked notes
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Underlying index: | S&P 500 index
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Amount: | $379,000
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Maturity: | Feb. 3, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index finishes at or above its initial level, par plus gain; if the index falls by up to 10%, par plus absolute value of the index return; otherwise, 1% loss for every 1% decline beyond 10%
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Call: | At par plus a 9.7% call premium if index closes at or above initial level on July 29, 2024
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Initial level: | 4,537.41
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Buffer level: | 90% of initial level
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Pricing date: | July 27, 2023
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Settlement date: | Aug. 1, 2023
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 0.6%
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Cusip: | 40057TL77
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