Published on 2/27/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $2.96 million leveraged basket-linked notes on 10-stock basket
By William Gullotti
Buffalo, N.Y., Feb. 27 – GS Finance Corp. priced $2.96 million of 0% leveraged notes due March 19, 2025 linked to an equally-weighted stock basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of American Express Co., Celsius Holdings, Inc., Ferrari NV, International Business Machines Corp., Lockheed Martin Corp., lululemon athletica inc., Netflix, Inc., Novo Nordisk AS, Spotify Technology SA and Toyota Motor Corp.
The payout at maturity will be par plus 300% of the basket gain, subject to a maximum payout of par plus 18.85%.
Investors will be fully exposed to any basket decline.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
|
| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Leveraged basket-linked notes
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| Underlying stocks: | American Express Co., Celsius Holdings, Inc., Ferrari NV, International Business Machines Corp., Lockheed Martin Corp., lululemon athletica inc., Netflix, Inc., Novo Nordisk AS, Spotify Technology SA and Toyota Motor Corp.; equal weights
|
| Amount: | $3,225,000
|
| Maturity: | March 19, 2025
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If basket return is positive, par plus 300% of basket gain, up to par plus 18.85%; otherwise, 1% loss for every 1% that the basket declines from initial level
|
| Initial levels: | $210.90 for AmEx, $62.56 for Celsius, $382.45 for Ferrari, $183.57 for IBM, $418.19 for Lockheed Martin, $460.71 for lululemon, $579.33 for Netflix, $123.29 for Novo Nordisk, $244.17 for Spotify, $227.03 for Toyota
|
| Pricing date: | Feb. 14
|
| Settlement date: | Feb. 20
|
| Agent: | Goldman Sachs & Co. LLC
|
| Fees: | 3%
|
| Cusip: | 40057X2J3
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