Published on 7/25/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $4.05 million autocallable contingent coupon equity notes on stocks
By Wendy Van Sickle
Columbus, Ohio, July 25 – GS Finance Corp. priced $4.05 million of autocallable contingent coupon equity-linked notes due July 25, 2030 linked to the stocks of Airbnb, Inc., Advanced Micro Devices, Inc., Enphase Energy, Inc., Nvidia Corp. and Schlumberger NV, 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% if each stock closes at or above its coupon barrier price, 67.8% 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: | Airbnb, Inc., Advanced Micro Devices, Inc., Enphase Energy, Inc., Nvidia Corp. and Schlumberger NV
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| Amount: | $4,046,000
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| Maturity: | July 25, 2030
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| Coupon: | 14% annual rate, payable monthly if closing price of each stock is greater than or equal to coupon barrier on related observation date
|
| 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 call observation date after one year
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| Initial share prices: | $145.28 for Airbnb, $110.25 for AMD, $175.92 for Enphase, $455.20 for Nvidia and $57.26 for Schlumberger
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| Coupon barrier prices: | 67.8% of initial levels
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| Pricing date: | July 20
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| Settlement date: | July 25
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 4.125%
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| Cusip: | 40057TL93
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