Published on 10/27/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $1 million autocallable index-linked notes on Nasdaq, S&P
Chicago, Oct. 27 – GS Finance Corp. priced $1 million of 0% autocallable index-linked notes due Aug. 30, 2023 tied to the S&P 500 index and the Nasdaq-100 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, 2023, the notes will be called at par plus a 10.5% call premium.
If the notes are not called and each index finishes at or above its initial level, the payout will be par plus 1.5 times the return of the laggard index.
If the worst performer declines but finishes at or above 80% of its initial level, the payout will be par plus the absolute return of the worse performer. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC and Citigroup Global Markets Inc. are the agents.
Issuer: | GS Finance Corp.
|
Guarantor: | Goldman Sachs Group, Inc.
|
Issue: | Autocallable index-linked notes
|
Underlying indexes: | S&P 500 index, Nasdaq-100 index
|
Amount: | $1,000,000
|
Maturity: | Aug. 30, 2023
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If the notes are not called and each index finishes at or above its initial level, par plus 1.5 times the return of the laggard index; if worst performer finishes above 80% of initial level, par plus absolute return of that index; otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level
|
Call: | If each index closes at or above its initial level on Feb. 27, 2023, notes will be called at par plus a 10.5% call premium
|
Initial index levels: | 4,384.65 for S&P, 14,189.16 for Nasdaq
|
Trigger buffer levels: | 80% of initial levels
|
Pricing date: | Feb. 25
|
Settlement date: | March 2
|
Agents: | Goldman Sachs & Co. LLC and Citigroup Global Markets Inc.
|
Fees: | 1.5%
|
Cusip: | 40057LCA7
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.