Published on 5/1/2024 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $2.51 million autocallable contingent coupon equity notes on five stocks
By William Gullotti
Buffalo, N.Y., May 1 – GS Finance Corp. priced $2.51 million of autocallable contingent coupon equity-linked notes due April 28, 2031 linked to the stocks of Palantir Technologies Inc., Super Micro Computer, Inc., Coinbase Global, Inc., Block, Inc. and Cloudflare, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent monthly coupon at an annual rate of 13.25% if each stock closes above its coupon barrier price, 80% of its initial price, on a related determination date. Previously unpaid coupons, if any, will be automatically included whenever a coupon is paid.
After one year, notes will be automatically called at par plus coupon if each stock closes at or above its initial share price on any quarterly call observation date.
If the notes are not called and the final share price of each stock is greater than or equal to its coupon barrier, the payout at maturity will be par plus the final coupon.
Otherwise, investors will receive par.
Goldman Sachs & Co. LLC is the underwriter.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying stocks: | Palantir Technologies Inc., Super Micro Computer, Inc., Coinbase Global, Inc., Block, Inc., Cloudflare, Inc.
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| Amount: | $2,506,000
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| Maturity: | April 28, 2031
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| Coupon: | 13.25% annual rate; payable monthly if closing price of each stock is greater than or equal to coupon barrier on related observation date; coupon payment events will automatically include any previously unpaid coupons
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon if each stock finishes at or above 80% of its initial share price; otherwise, par
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| Call: | At par plus coupon if closing share price of least performing stock is greater than or equal to its initial share price on any quarterly observation date after one year
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| Initial share prices: | $20.47 for Palantir, $713.65 for Super Micro, $211.01 for Coinbase, $70.42 for Block, $84.10 for Cloudflare
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| Coupon barrier prices: | 80% of initial levels
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| Pricing date: | April 19
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| Settlement date: | April 24
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| Underwriter: | Goldman Sachs & Co. LLC
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| Fees: | 4.225%
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| Cusip: | 40058A2U7
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