Published on 10/10/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $7.96 million autocallable ETF-linked notes on three funds
By William Gullotti
Buffalo, N.Y., Oct. 10 – GS Finance Corp. priced $7.96 million of 0% autocallable ETF-linked notes due Oct. 6, 2028 tied to the SPDR S&P 500 ETF Trust, the SPDR Dow Jones Industrial Average ETF Trust and the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be automatically called at par plus a 9.06% annualized call premium if each ETF closes at or above its initial value on any quarterly valuation date after one year.
If the return of each ETF is zero or positive, the payout at maturity will par plus 45.3%.
If the worst performer falls by up to 20%, the payout will be par. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial value.
Goldman, Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable ETF-linked notes
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| Underlying ETFs: | SPDR S&P 500 ETF Trust, SPDR Dow Jones Industrial Average ETF Trust, iShares Russell 2000 ETF
|
| Amount: | $7,955,000
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| Maturity: | Oct. 6, 2028
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If the return of each fund is flat or positive, par plus 45.3%; if worst performer falls by up to 20%, par; otherwise, 1% loss for every 1% decline of worst performer from its initial value
|
| Call: | Automatically at par plus a 9.06% annualized call premium if each ETF closes at or above its initial value on any quarterly valuation date after one year
|
| Initial values: | $176.74 for iShares, $427.48 for SPDR S&P, $334.95 for SPDR Dow
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| Barrier levels: | 80% of initial levels
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| Pricing date: | Sept. 29
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| Settlement date: | Oct. 4
|
| Agent: | Goldman, Sachs & Co. LLC
|
| Fees: | 4.1%
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| Cusip: | 40057WDL8
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