Published on 9/1/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1.41 million autocallable index-linked notes on Russell Value, S&P
By Kiku Steinfeld
Chicago, Sept. 1 – GS Finance Corp. priced $1.41 million of 0% autocallable index-linked notes due March 6, 2026 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 Feb. 27, 2024, the notes will be called at par plus an 11.75% call premium.
If the notes are not called and each index finishes above its initial level, the payout will be par plus 150% of the return of the lesser performer.
If the worst performer declines but finishes at or above 80% of its initial level, the payout will be par.
If any index falls by more than 20%, investors will be fully exposed to the losses of the worse performer.
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: | $1,413,000
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| Maturity: | March 6, 2026
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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 above its initial level, par plus 1.5 times return of lesser performing index return; if worst performer declines but finishes at or above 80% of initial level, par; otherwise, investors will be fully exposed to the decline of the worse performing index
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| Call: | If each index closes at or above initial level on Feb. 27, 2024, par plus 11.75% call premium
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| Initial index levels: | 3,982.24 for S&P, 2,227.025 for Russell Value
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| Trigger buffer levels: | 80% of initial levels
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| Pricing date: | Feb. 27, 2023
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| Settlement date: | March 2, 2023
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 3.2%
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| Cusip: | 40057PJJ2
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