Published on 10/19/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $140,000 autocallable index-linked notes on Russell Value, S&P
By Kiku Steinfeld
Chicago, Oct. 19 – GS Finance Corp. priced $140,000 of 0% autocallable index-linked notes due April 4, 2028 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 any annual call date, the notes will be called at par plus an 8.5% per year call premium.
If the notes are not called and each index finishes at or above its initial level, the payout will be par plus 42.5%.
If the worst performer declines but finishes at or above 70% of its initial level, the payout will be par.
If any index falls by more than 30%, 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: | $140,000
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| Maturity: | April 4, 2028
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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 42.5%if worst performer declines but finishes at or above 70% 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 on any annual call date, par plus 8.5% per year call premium
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| Initial index levels: | 3,971.27 for S&P, 2,009.603 for Russell Value
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| Trigger buffer levels: | 70% of initial levels
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| Pricing date: | March 28, 2023
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| Settlement date: | March 31, 2023
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 4.25%
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| Cusip: | 40057PX72
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