Published on 6/15/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $511,000 autocallable contingent coupon equity notes on stocks
Chicago, June 15 – GS Finance Corp. priced $511,000 of autocallable contingent coupon equity-linked notes due June 5, 2030 linked to the stocks of Block, Inc., PNC Financial Services Group, Inc., Netflix, Inc., Tesla, Inc. and Freeport-McMoRan Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent monthly coupon at an annual rate of 14.5% if each stock closes at or above its coupon barrier price, 73% of its initial price, on a related determination date.
The notes will be automatically called at par plus coupon if each stock closes at or above its initial share price on any quarterly call observation date after one year.
If the notes have not been called, the payout at maturity will be par with any contingent coupon due.
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 contingent coupon equity-linked securities
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| Underlying stocks: | Block, Inc., PNC Financial Services Group, Inc., Netflix, Inc., Tesla, Inc. and Freeport-McMoRan Inc.
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| Amount: | $511,000
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| Maturity: | June 5, 2030
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| Coupon: | 14.5% annual rate, payable monthly if closing price of each stock is greater than or equal to coupon barrier on related observation date
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| Price: | Par
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| Payout at maturity: | Par plus any coupon due
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| Call: | At par plus coupon if closing share price of least performing stock is greater than or equal to its initial share price on any quarterly observation date after one year
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| Initial share prices: | $60.39 for Block, $115.83 for PNC, $395.23 for Netflix, $203.93 for Tesla and $34.34 for Freeport
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| Coupon barrier prices: | 73% of initial levels
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| Pricing date: | May 31
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| Settlement date: | June 5
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 4.125%
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| Cusip: | 40057T4N1
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