Published on 10/5/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $2.24 million autocallable index-linked notes on S&P 500, Russell 2000 Value
By Wendy Van Sickle
Columbus, Ohio, Oct. 5 – GS Finance Corp. priced $2.24 million of 0% autocallable index-linked notes due Sept. 9, 2025 tied to the S&P 500 index and the Russell 2000 Value index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its initial level on Aug. 30, 2023, the notes will be called at par plus a 17.25% call premium.
If the notes are not called and each index finishes at or above its initial level, the payout will be par plus 150% of the return of the laggard index.
If the laggard index declines but finishes at or above 85% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the laggard index beyond 15%.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable index-linked notes
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| Underlying indexes: | S&P 500 index, Russell 2000 Value index
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| Amount: | $2,235,000
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| Maturity: | Sept. 9, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the notes are not called and each index finishes at or above its initial level, par plus 150% of the return of the laggard index; if laggard index finishes at or above 85% of initial level, par; otherwise, lose 1% for every 1% decline of the laggard index beyond 15%
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| Call: | If each index closes at or above initial level on Aug. 30, 2023, notes will be called at par plus a 17.25% call premium
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| Initial index levels: | 2,176.323 for Russell, 3,986.16 for S&P
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| Trigger buffer levels: | 85% of initial levels
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| Pricing date: | Aug. 30
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| Settlement date: | Sept. 2
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 3.2%
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| Cusip: | 40057MSB6
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