Published on 4/30/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $2.3 million autocallable index-linked notes tied to S&P, Russell
By Kiku Steinfeld
Chicago, April 30 – GS Finance Corp. priced $2.3 million of 0% autocallable index-linked notes due Aug. 7, 2025 tied to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will be called at par plus a 12% call premium if the lesser performing index closes at or above its initial level on July 31, 2024.
If the notes are not called and the lesser performing index finishes positive, the payout at maturity will be par plus 2 times the gain of the lesser performing index.
If the lesser performing index declines but finishes above its 85% buffer level, the payout will be par.
Otherwise, investors will be fully exposed to the losses of the lesser performer beyond the buffer.
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, Russell 2000
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Amount: | $2,299,000
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Maturity: | Aug. 7, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the lesser performing index finishes at or above initial level, par plus 2 times that index’s return; if the lesser performer declines by up to 15%, par; otherwise, 1% loss for each 1% decline of lesser performer beyond buffer
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Call: | At par plus a 12% call premium if lesser performer closes at or above initial level on July 31, 2024
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Initial levels: | 4,588.96 for S&P, 2,003.177 for Russell
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Buffer levels: | 85% of initial level
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Pricing date: | July 31, 2023
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Settlement date: | Aug. 3, 2023
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Agent: | Goldman Sachs & Co. LLC
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Fees: | 0.8%
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Cusip: | 40057TF33
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