Published on 11/16/2023 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $600,000 autocallable notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Nov. 16 – GS Finance Corp. priced $600,000 of 0% autocallable index-linked notes due Nov. 3, 2028 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 10.75% per year if the index closes at or above the initial index level on any annual call observation date.
If the index return is positive or zero, the payout at maturity will be par plus 64.5%. If the index return is negative but not below negative 10%, the payout will be par. If the index return is below negative 10%, investors will lose 1% for every 1% that the index declines beyond 10%.
The notes are guaranteed by Goldman Sachs Group, Inc.
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 index-linked notes
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Underlying index: | S&P 500 index
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Amount: | $600,000
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Maturity: | Nov. 3, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive or zero, par plus 64.5%; if index return is negative but not below negative 10%, par; if index return is below negative 10%, 1% loss for every 1% that index declines beyond 10%
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Call: | Automatically at par plus 10.75% per year if index closes at or above initial index level on any annual call observation date
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Initial level: | 3,871.98
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Pricing date: | Oct. 31, 2022
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Settlement date: | Nov. 3, 2022
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Underwriter: | Goldman Sachs & Co. LLC
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Fees: | 3.5%
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Cusip: | 40057NTS6
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